What are Limit Orders?
- Limit Order is an order that is placed at a limit price.
- When you set a limit order, the trade will be completed if the market price reaches the limit price (or a better price) that you had placed.
- Therefore, you may use limit orders to buy at a lower price or sell at a higher price than the current market price.
How can I place Limit Orders?
To place a "BUY" limit order, follow the simple steps below.
- Go to the coin page and click on "Buy".
- Click on "Order Type" and select "Limit".
- Enter the amount and click on "Set Limit Price".
- Set your preferred limit price and validity period, and click on "Preview Buy".
- Check the details and click on "Buy".
To place a "SELL" limit order, follow the simple steps below.
- Go to the coin page and click on "Sell".
- Click on "Order Type" and select "Limit".
- Enter the coin amount and click on "Set Limit Price".
- Set your preferred limit price and validity period, and click on "Preview Sell".
- Check the details and click on "Sell".
Why is there a maximum/minimum limit to placing a limit order?
- The max/min price limits to place a limit order depend on the coin.
- The maximum limit is usually +50% of the current price of the coin.
- The minimum limit is usually -50% of the current price of the coin.
What is the maximum validity of my Limit Orders?
- It is the maximum period up to which your limit order will be valid.
- If your limit order is not fulfilled, it will expire after reaching its maximum validity date.
- You can select the maximum validity while placing the limit order.
- It can be set at 24 hours, 7 days, or 90 days.
How can I cancel my Limit Order?
Follow the simple steps below to cancel your limit order.
- Go to the coin page for which you have placed the limit order
- Scroll down and click on "View Order & History".
- Under the "Open" tab, tap on the limit order that you want to cancel.
- Click on "View Details".
- Click on "Delete Order".
- Click on "Yes, Delete".
What is a partially executed limit order?
- A trade is referred to as a partial execution when only a portion of an order is completed at the intended price.
- This occurs when there aren’t enough orders to fully execute your order and mostly with limit orders placed on low-volume orders.
- To execute an order, there must be a buyer and seller on both sides of the trade. So, if there aren’t enough shares in the market at your limit price, it may take multiple trades to fill the entire order.
Here's an example:
- ABC is a coin trading at INR 10.
- You place a limit order to sell 1,000 coins of ABC at INR 11.
- Your order matches a buyer willing to pay INR 11 for 400 shares.
- Your order receives a partial execution of 400 instead of 1,000 because there weren’t enough orders available at your specified price of INR 11.