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How to use limited orders for better trading results in CRIPTO Currency
The Crypto Currency World has exploded in recent years, and prices have fallen suddenly and for a moment. As a merchant, you want to move around the market with confidence and precision, maximizing potential profits, at the same time a minimizing risk. One powerful tool that can help you achieve this goal is a limited order.
In this article, we will explore how to use limited orders for better trading results in the crypto currency, including how to place them, when to use them and what to look out for as a merchant.
What are the limited orders?
A limited order is instructions to buy or sell certain assets at a specified price. This is contrary to a market order that buys or sells property at the current market price. With a limit, you give your broker permission to execute a trade only when the conditions specified are fulfilled.
Why use limited orders in the Crypto currency?
Cryptocurrency markets can be unstable and unpredictable, making it difficult to predict prices with certainty. By using border orders you can:
- Avoid overpayment or excess sales : market orders are executed at the current market price. By limiting the order, you can avoid paying more than your target price.
- Protect yourself from the market fluctuation : If the market is moving against you, you will not remain non -profitable trade. Limited orders will ensure that your position is closed when it reaches a predetermined threshold.
- Use the price trends : By installing a limit for buying $ 10.50 and sales of $ 12.00, record a trend in the cryptocurrency markets.
How to set up limited orders in the Crypto Currency
To set up a limited crime trading order, follow these steps:
- Select your broker : Choose a distinguished internet mediator who offers margin trading options. Popular brokers include Binance, Kraken and Coinbase.
- Log into your account : access your network platform for brokerage power and sign up with your credentials.
- Go to the Order Book : You are up to the "Order" or "Market Orders" card to view any available orders.
- Make a new border order : Click the "Orders to Location" button, select "Limited Order" and select "Buy" or "Sell".
- Enter parameters :
* Ty : Enter "Limited Order."
* Condition : Set the price you want to buy or sell (eg $ 10.50).
* Target Price : Enter your desired targeted price.
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When to use border orders
Limited orders are especially useful in cryptocurrency markets when:
- You trade in large assets
: to avoid stuck with non -profit trade due to the market volatility.
- You have a specific price goal : If you want to buy $ 10.50 each and sell $ 12.00 each, a limited order will ensure that your position is closed when it reaches the target price.
- Trales with a high level of influence
: limited orders can help you manage risk limiting potential losses.
What to look out for as a merchant
To maximize the effectiveness of your border orders:
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- Price Movement Monitor : Watch the price action to ensure that other merchants do not reach or exceed your target price.
- Customize your parameters : As market conditions change, adjust the parameters of your limited order to optimize your trading results.
Conclusion
Limited orders are a powerful tool for merchants who want to move in cryptocurrency markets with precision and confidence. By understanding how effectively set up and use limited orders, you will be able to:
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