Limit order

A limit order is a type of order to buy or sell an asset at a specified price or better. 

This type of order is great when you are sure what price you want on your trade. It allows the trader to specify the maximum amount you are willing to pay when you buy or the minimum amount you are willing to receive when you sell. 

Therefore, for buy limit orders, the order will be executed only at the limit price or a lower one, while for sell limit orders, the order will be executed only at the limit price or a higher one.

For example, if you are looking to buy BTC but you set a limit order of $6,000, you will only buy the BTC at a price of $6,000 or lower. If you are looking to sell BTC with a $6,000 limit, you will not sell any BTC until the price is $6,000 or higher.  

 When placing a limit order, you must specify the amount of the asset and the price at which you are willing to buy or sell. Then the order is placed in the order book and you have to wait until the order is filled. By placing a limit order, you become a market maker and you will be paying fees as such.

Limit orders allow control over the price of execution, but they do not guarantee that the order will be executed immediately or even at all, which can result in missed opportunities in fast-moving market conditions.

Limit orders can be also used to set future orders for profit-taking on a long-term investment. Additionally, a limit order can be useful if a trader is not watching an asset and has a specific price in mind at which they would be happy to buy or sell that asset.

 HOW TO PLACE A LIMIT ORDER ON ALTEUMX

1. Open  www.alteumx.com and Log in.
2. Click on "Exchange"

 3. Choose the trading pair of the asset you wish to buy or sell 

4. Select the option for either "BUY" or "SELL" and then select "Limit Order"

 5. Enter the price and the amount of the asset you wish to buy or sell. Click on "buy" or "sell"

 6. At the bottom of the page, you can track your order history: amount, average price, total, and status of your order.


NOTE: Before making the decision to buy, sell, or hold any digital asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision.

AlteumX does not provide any investment advice or advice on trading techniques, models, algorithms, or any other schemes. No communication or information provided to you by Alteumx is intended as or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice

- AlteumX Team