Order Types

Order Types

Order Types

There are three types of orders on the Bitexen platform: Limit Order, Market Order and Stop Order. You can use one of these three order types in your trading transactions or more than one order type depending on the amount of available balance in your Bitexen account.
 
1. Market Order
Market order allows you to trade at the best price in the depth chart. If there is not enough depth to cover your buy or sell order at the best price, the rest of your order will be executed at the next best price.
 
Market orders are ideal for making quick buy and sell transactions without wasting time with small price fluctuations.

 2. Limit Order
 A limit order is the type of order you place by specifying the amount and price you want to trade. Your order will not be executed until the limit price in your order reaches the current market price. Therefore, there is no guarantee of realization of your transaction.

3. Stop Order
A Stop Order is a type of order that allows conditional orders to be entered, which are generally used to make less loss or protect profits. In this type of order, the trigger price and the limit price or the market price depending on the type of stop order are included. When the market price reaches the trigger price level, the condition of the order is fulfilled and it is recorded in the order book at the determined limit price or the market price is instantly traded. Stop Order is divided into Stop-Limit Order and Stop-Market Order according to the price at which the order will be placed.
 
Stop - Limit Order
In Stop-Limit Orders given for buying; A limit buy order is created when the lowest selling price in the order book exceeds the trigger price. In this way, the rise can be achieved.

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