Crypto Trading Tips 2: Limit Order Explained 2023 (How to Place a Limit Order)
Every Bit Helps
Welcome to our guide on how to place a limit order! This tutorial is designed for individuals at any experience level in the cryptocurrency space who are aiming to enhance their trading techniques. Just as with market orders, we use Coinbase Advanced for demonstration purposes, but you'll find that these core principles are relevant to other advanced trading platforms such as Binance and OKX, ensuring you can apply what you learn across various exchanges.
Timeline: 00:44 - What is a Limit Order? 02:04 - How to Place a Limit Order
🔹 What is a Limit Order? A crypto limit order allows you to buy or sell a cryptocurrency at a specific price or better. When you set a limit order, the trade will only be executed if the market price meets your limit price or is more favourable.
Limit orders are not immediate; they may wait in the order book until the market price matches your set price, and:
- Buy Limit Order: You specify the maximum price you are willing to pay for a cryptocurrency. Your order will be executed at your limit price or lower.
- Sell Limit Order: You indicate the minimum price you are willing to accept for a cryptocurrency. Your order will be executed at your limit price or higher.
This order type is excellent for traders who prefer more control over the prices at which they buy or sell, making it possible to manage risk and return with more precision.
🔹 Stay Secure: Remember to access only the genuine Coinbase website and keep your credentials private to maintain account security.
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The content Every Bit Helps provides is not financial advice; these are simply our opinions. As such, this should not be treated as explicit financial, trading, or otherwise investment advice. We always recommend that you do your own research before making any investment. ... https://www.youtube.com/watch?v=SKTZ2845JUU
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