How to place orders on PrimeXBT's web trader platform? Table of Contents
Advanced order types at PrimeXBT
There are various ways to place orders on PrimeXBT’s web trader.
1. Market order
A market order is executed immediately, at the first available market price.
Traders use market order when they want to enter the position immediately, and do not care about the exact price of entry.
Market order is PrimeXBT’s default order, and will be automatically chosen when clicking ‘buy’ or ‘sell’ unless changed.
The only variable is the amount of cryptocurrency to be sold or bought.
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2. Limit order
Limit orders are orders where the trader specifies a maximum or minimum price to buy or sell a cryptocurrency.
Traders use this order type to improve and time their price of entry or exit.
This type of order, however, does not guarantee the successful execution.
If the price does not reach the specified price, the limit order will not be triggered.
Limit order is the second option in the ‘Order Type’ drop-down menu PrimeXBT offers.
3. Stop order
A stop order will trigger a buy or sell entry of an asset once the price of the stock reaches a specified price, known as the stop price.
As soon as the stop price is reached, a stop order becomes a market order, fulfilling immediately.
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4. Protection orders
Traders can set up additional protection orders for any new market, limit or stop orders by clicking on the box ‘Protection Orders’ in the order form.
It will expand the form and allow the user to set up Stop Loss price and Take Profit price.
Setting the protection orders for any existing position is done by double clicking the position where you want to add protection order.
5. Order adjustment and cancelation
Any already set orders can be adjusted in case of a strategy change or a simple typo.
Additionally, the orders can be canceled at any time, without any cost.
Visit PrimeXBT Official Website
Please check PrimeXBT official website or contact the customer support with regard to the latest information and more accurate details.
PrimeXBT official website is here.
Please click "Introduction of PrimeXBT", if you want to know the details and the company information of PrimeXBT.
Comment by Hans
April 24, 2024
as I am trading here various assets, for me it's the most important feature. i mean, flexibility in tradable markets. i alternate trading styles, meaning that sometimes I trad...