Entering Market, Limit, & Stop Orders

Jan 16, 2018

On the order panel, you can choose to place a market, limit, or stop order. A market order will execute immediately at the current market price. A limit order lets you set your own price, as well as set some advanced order execution options. A stop order lets you specify the price at which the order should be executed and is useful for stop loss and similar strategies.

Market Orders

Select 'Market' above the buy/sell buttons to place a market order. Choose "Buy" or "Sell" and enter the size of your order. You can set the size in any supported currency. Selecting "Buy" for example, and entering 100 as the amount, then setting the units to US dollars will buy one hundred dollars worth of the digital currency you have selected at the market price.

  • Market orders cannot be cancelled because they are filled immediately.
  • Market orders may be partially filled at several prices. Each part of your order will be shown in the fills panel.

Limit Orders

Select 'Limit' above the buy/sell buttons to place a limit order. Enter the order size, and your price, select either 'Post Only' or 'Allow Taker', and click 'Place [Buy / Sell] Order' to submit your order.

  • 'Post Only' will ensure that the order is only executed if the entire order can be posted to the order book. If any part of the order crosses the spread to fill an existing order, an error will be displayed and the order will not be executed. This is useful for guaranteeing that the entire order is subject to a 0% maker order fee rate.
  • 'Allow Taker' will allow the order to be executed regardless of whether it crosses the spread to fill an existing order. If any part of the order crosses the spread, that portion will be assessed the taker fee rate.

When you place an order, it will be shown in several views - including 'Open orders', the 'Order book', and the 'Depth chart'. A basic limit order may be partially filled and is subject to price improvement - you may get an even better price than you asked for.

Stop Orders

Select 'Stop' above the buy/sell buttons to place a stop order. 

To place a Stop Market order, specify the amount and price at which the order should be triggered. Note that Stop Market orders are executed as market orders and may incur slippage.

To place a Stop Limit order, specify the amount and price at which the order should be triggered and also click "Advanced" to specify the Limit Price. A Stop Limit order will automatically post a Limit Order at the Limit Price when the Stop Price is triggered  

Advanced Limit Order Options

When selecting a limit order, expand the "advanced section" to reveal the following Time in Force policies:

  • Good 'Til Canceled (GTC) - This order will be placed on the order book and remain valid until you cancel it.
  • Immediate or Cancel (IOC) - This order will be placed and if it is not immediately filled, it will automatically be cancelled and removed from the order book.
  • Fill or Kill (FOC) - This order will only complete if the entire amount can be matched. Partial matches are not filled with this order type and will not execute.

Time in force policies provide guarantees about the lifetime of an order. These types of orders provide advanced options you may be familiar with when trading traditional assets.

 

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