BINANCE: "TYPES OF ORDERS IN CRYPTOCURRENCY TRADING (LIMIT, MARKET, STOP LIMIT AND OCO)
BINANCE UP TO THE MOMENT IS THE MOST POPULAR CRYPTOCURRENCY EXCHANGE TO THE PRESENT, TO OPERATE ON THIS PLATFORM IT IS IMPORTANT TO KNOW THE TYPES OF ORDER TO BE ABLE TO OPERATE WITH MORE EASY IN THIS MARKET. BELOW I BRING YOU A SMALL SUMMARY OF WHAT EACH ORDER REPRESENTS AND A MORE SPECIFIC VIDEO TUTORIAL SO YOU CAN UNDERSTAND IT IN A MORE EASY AND PRACTICAL WAY.
LIMIT ORDERS: IT IS AN INSTRUCTION THAT IS GIVEN TO EXECUTE A TRANSACTION AT A LEVEL THAT IS MORE FAVORABLE THAN THE CURRENT MARKET PRICE, THERE ARE TWO VARIETIES OF LIMIT ORDERS: THE ENTRY OR PURCHASE ORDERS (CONSISTING OF OPENING A POSITION ) AND THE CLOSING OR SALE ORDERS (THAT END AN OPEN POSITION).
MARKET ORDERS: IT IS AN INSTRUCTION FROM AN INVESTOR TO THE PLATFORM TO EXECUTE AN OPERATION IMMEDIATELY AT THE BEST PRICE AVAILABLE. GENERALLY, MARKET ORDERS ARE EXECUTED VERY QUICKLY, PROVIDED THERE IS SUFFICIENT LIQUIDITY IN THE MARKET.
STOP LIMIT: AN ORDER WITH A PURCHASE OR SALE LIMIT IS SENT WHEN THE STOP ACTIVATION PRICE SPECIFIED BY THE USER IS REACHED OR EXCEEDED. THE ORDER HAS TWO COMPONENTS: THE STOP PRICE AND THE LIMIT PRICE. WHEN A TRADE REACHES OR EXCEEDS THE STOP PRICE, THE ORDER BECOMES EXECUTABLE AND ENTERS THE MARKET AS A LIMIT ORDER, WHICH IS AN ORDER TO BUY OR SELL AT A SPECIFIED OR BETTER PRICE.
OCO ORDERS: IT COMES FROM THE ACRONYM "ONE CANCELS THE OTHER", IT ALLOWS YOU TO PLACE TWO ORDERS AT A TIME. IT COMBINES A LIMIT ORDER WITH A STOP LIMIT ORDER, BUT ONLY ONE OF THE TWO CAN BE EXECUTED.
SPECIFIC VIDEO OF THE EXPLANATION OF THE TYPES OF ORDER
CONTACT:
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