How to set a limit order for APX (APX) coin?

Executing a limit order places a trade intention at a predetermined price, ensuring acquisition or disposal of an asset once the market price aligns with the specified limit, enabling traders to control the execution of their orders.

Dec 21, 2024 at 10:11 pm

Key Points:

• Understanding Limit Orders
• Placing a Limit Order on Binance
• Setting Up a Limit Order on FTX (not included in rankings)
• Executing a Limit Order on KuCoin
• Monitoring and Managing Limit Orders

Detailed Guide:

1. Understanding Limit Orders:

Limit orders are advanced trading mechanisms that allow traders to specify the exact price at which they want to buy or sell an asset. Unlike market orders that are executed immediately at the current market price, limit orders are only executed once the price reaches the specified limit.

2. Placing a Limit Order on Binance:

a. Navigate to the "Spot Trading" page for APX/BUSD pair.
b. Select the "Limit" order type.
c. Enter the desired price in the "Limit Price" field.
d. Specify the quantity of APX coins to buy or sell.
e. Click the "Buy APX" or "Sell APX" button to confirm the order.

3. Setting Up a Limit Order on FTX (not included in rankings):

a. Go to the "Markets" tab and search for APX/USD.
b. Select the "Limit" order type.
c. Enter the limit price, quantity, and side of the order (buy or sell).
d. Click the "Preview Order" button to review the details.
e. If everything is correct, click the "Place Order" button.

4. Executing a Limit Order on KuCoin:

a. On the "Trade" page, select the APX/USDT pair.
b. Choose "Limit" in the order type section.
c. Input the limit price, amount, and buy or sell option.
d. Click the "Buy APX" or "Sell APX" button to complete the order.

5. Monitoring and Managing Limit Orders:

a. Find the "Open Orders" section on the exchange you are using.
b. Check the status of your limit order (pending, partially filled, or executed).
c. To amend or cancel an order, click on the corresponding button and modify or delete the order.

FAQs:

• What is the difference between a limit order and a market order?

  • Limit orders allow traders to specify a specific price, while market orders are executed instantly at the current market price.

• When should I use a limit order?

  • Use limit orders to buy or sell at a specific price that is not currently available.

• How long does a limit order stay active?

  • Limit orders remain active until they are executed, canceled, or expire (typically after 24 hours).

• Can limit orders be used to buy cryptocurrency?

  • Yes, limit orders can be used to both buy and sell cryptocurrency.

• Are limit orders always executed?

  • No, limit orders are only executed if the market price reaches the specified limit.