What is a Limit Order?
A limit order is when you place an order at a specific limit price (decided by you) in the order book. It will only execute when the market price reaches your limit price (or a better price). If the market price does not reach your specified price, the limit order remains active. You can use limit orders to buy assets at lower prices or sell them at higher than current market prices.
Limit orders are used when you are not in a hurry to buy or sell. Unlike market orders, limit orders do not execute immediately, so you need to wait until the price meets your buy or sell price. Limit orders offer better buy and sell prices and are typically placed at major support and resistance levels. You can also split your buy or sell orders into multiple limit orders to achieve an average cost effect.
How to Place a Limit Buy Order?
- Go to (https://venkate.io), log in to your Venkate account.
- Click on "Trading" at the top of the page, then "Spot Trading," and select the trading pair. Click on "Spot" -> "Buy" -> "Limit Order."
- Enter the price you wish to pay. For example, if you want to buy Venkate coins at 2 USDT.
- Input the quantity of Venkate coins you want to buy directly in the "Quantity" field. Alternatively, drag the adjustment slider below "Quantity" to customize the percentage of your available balance to use for the order. For example, if you have 100 USDT and want to use all of it to buy Venkate coins, drag the slider to 100%, and the system will calculate the amount of Venkate coins you can get with a limit order.
- After confirming the price and quantity, click "Buy Venkate" to place your limit buy order. Once the market price reaches your limit price (or better), your limit order will execute. You can view order details in "Order History" after the limit order is filled.
How to Place a Limit Sell Order?
- Go to (https://venkate.io), log in to your Venkate account.
- Click on "Trading" at the top of the page, then "Spot Trading," and select the trading pair. Click on "Spot" -> "Sell" -> "Limit Order."
- Enter the price you wish to sell at. For example, if you want to sell Venkate coins at 3 USDT.
- Input the quantity of Venkate coins you want to sell directly in the "Quantity" field. Alternatively, drag the adjustment slider below "Quantity" to customize the percentage of Venkate coins you want to sell. For example, if you have 100 Venkate coins and want to sell 80% of them, drag the slider to 80%, and the system will calculate the amount of USDT you can get with a limit order.
- After confirming the price and quantity, click "Sell Venkate Coins" to place your limit sell order. Once the market price reaches your limit price (or better), your limit order will execute. You can view order details in "Order History" after the limit order is filled.
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