Limit Order and Market Order

Limit Order and Market Order

(1). Limit trading:

It refers to the order where the user customizes the entrusted price and the quantity of the order, and the system matches the transaction according to the set price after the order is placed.

Suppose the current price of ETC is 16.16 USDT. You want to sell 100 ETC at the price of 16.16 USDT. At this time, you can choose to place a limit trading order.

Order placement method: Select "Limit Trading", set the entrusted price of 16.16 USDT, the quantity of 100 ETC, and click the "Sell" button to complete the order placement.

(2). Market trading:

It refers to the order where the entrusted price is not set, only the amount (buy order) and the quantity (sell order) are set.After the order is placed, the system directly matches the existing orders on the buy and sell order books for transaction.

Suppose the current price of ETC is 16.16 USDT. You want to sell 100 ETC quickly. At this time, you can choose to place a market trading order. Select market trading, and the system will match your sell order with the buy orders in the current buy and sell order books. Your order will be completed soon. This is the best way to buy or sell quickly.

Order placement method: Select "Market Trading", set the quantity to 100 ETC, and click the "Sell" button to complete the order placement.

Note: Since the market order will be completed immediately, it cannot be cancelled. You can only view the order transaction details in the historical orders and transaction details; the transaction price of the market order is subject to the matched orders, so it is greatly affected by the market depth. Please pay attention to the market depth when trading with market orders.