Binance – What Is a Limit Order?

A Limited Order is an order that you intend to place on the Order Book at a specified limit price! So, you set this specific limit price yourself. When you place a frontier order, the desired trade will be made and executed if the market price reaches or exceeds the frontier price. With this method, you can use frontier orders and buy at a lower price or sell at a higher price.Marketing orders where trades are executed at the current market price will be placed in the order book and may not be immediately executed. This means that you save on commissions.

How you use it?

If you want to sell Binance coins at a higher price than what is currently available and on the market! Log in to your Binance account and select the BNB market you want, for example BNB / BTC, and then go to the trading page.In the menu, find the Restrict order tab, set the price / quantity, and then press the Sell BNB button.Of course, you can also easily set the amount by clicking the percentage keys where you can set the balance, for example 25% – 50% – 75% – 100%

After all this, you will see a confirmation message on your screen and your frontier order will be automatically placed in the order book by a little yellow arrow!

Scroll down to see and manage your open orders. A limited order is executed when the market price reaches the limit price, if at any time the market price does not reach the price you set, that limit order remains open in the system.

When should you use it?

We recommend that you use your frontier orders when you are not in a hurry to sell or buy! Unlike marketing orders, frontier orders will not be placed immediately, so you are advised to wait until the ask / offer price is reached in the system.Limited orders will give you a better sale and purchase price and these are usually set at high support and resistance levels.You can also divide your purchase and sales order into a large number of small orders to get a better average cost impact!