if you trade with Bittime, you can choose between Limit Orders, Market Orders, and Trigger Limit Orders. Find out how it works below:
Order Limit or Limit Order also known as Market Maker is an order method that allows Bittime members to set the price they want to buy or sell crypto assets.
If a Bittime member chooses this order method, the order will only be executed if the market reaches a predetermined price. Limit Orders can be used to buy at a lower price or sell at a higher price than the current market price.
However, keep in mind that your order will be registered in the Order Book and not executed immediately/instantly until the latest market price and your order queue reach the predetermined price and orderbook amount.
Order Market/ Order Pasar
Market Order or Market Order also known as Market Taker (Instant) is an order method that allows Bittime members to buy or sell crypto assets at the best price available on the market right away.
If a Bittime member chooses this order method, the order is executed at the current market price ( real-time price ) available in the Order Book as soon as possible when the member places the order. Order Market is suitable for those of you who don't want to wait a long time for an order to be executed.
Trigger Order or Trigger Order also known as Stop Market is an order method that allows Bittime members to set the minimum amount of profit they want to take or the maximum amount that can be received if they experience a loss in buying and selling crypto assets.
If a Bittime member chooses this order method, then the member needs to determine the trigger price and limit price . The trigger price is the price at which the trigger order will be triggered, and the limit price is the price the limit order is triggered at. When the member's “ trigger price ” price is met, the member's limit order will be placed directly in the Order Book . With Trigger Order , you will automatically place an order once the price reaches the limit you set and helps protect you from sudden price changes.
This Trigger Order can be applied to create a Take Profit Limit Order or Stop Loss . However, it should be noted that when implementing this method, the system will automatically reject or cancel buy/sell orders if the available asset volume on the market is too small to meet the member's buying/selling volume.