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What is a “limit order” and how to create a limit order?


A limit order is an order to buy or to sell at a specific price that you can set, to give investors more control over the buying and selling prices of their trades.

Before placing a purchase order, a maximum acceptable purchase price must be selected. The minimum acceptable sales prices are indicated on sales orders.

A sales limit order can only be executed at the limit price or higher, and a purchase limit order can only be executed at the limit price or lower.

For a purchase limit order to be filled, the Ask price, not just the Bid price, must fall to the trader's specified price.

For example:

If you want to buy BTC with USDT at 8,033 USDT/BTC, you can choose the BTC/USDT pair to make a buy limit order.

 

Set the buy price (8,033 USDT/BTC), set the buy amount (0.0001 BTC) and then click on BUY BTC to confirm your order.

 

Before the price is achieved, the order will be maintained in "open status", and you can cancel it if you change your mind or don’t want to wait any longer.

 

Once the price has been achieved, the order will be executed and you can find it in "Orders history" with the details.

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