What is a Limit Order?
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1. What is a Limit Order?
A limit order allows users to set their own order price. The order will be executed at the specified price or a better price if available.
When submitting a limit order, if there are already orders in the current order book that match the user’s specified price, the limit order will execute immediately at the best available price. If there are no matching orders, the limit order will remain in the order book and wait until it is either executed or canceled by the user.
Concepts involved in MEXC limit orders:
- Buy Price / Sell Price: The price at which the user wants to buy/sell cryptocurrency.
- Buy Amount / Sell Amount: The amount of cryptocurrency the user wants to buy/sell.
- Total Amount: The total amount of cryptocurrency the user wants to buy/sell.
- TP/SL: When placing a limit order, the user can set TP/SL for the order. After the order is fully executed, the system will place the TP/SL orders at the specified price and order quantity. Note that if the actual amount of the order after triggering is less than the minimum order amount, the order will become invalid.
2. How to Place a Limit Order
Let's demonstrate how to place a limit order for the MX/USDT trading pair.
2.1 Web
1) Open the MEXC official website, log in to your account, and click [Spot] to access the spot trading page.
2) Select [Limit] as the order type.
3) Fill in the "Price" and "Amount" fields.
4) Choose whether to check the "TP" and "SL" options for setup.
5) Click [Buy MX] to place the spot limit order for MX.
6) Your limit order will be displayed under "Open Orders."
7) When the market price reaches or exceeds the specified order price or a better price, your limit order will be executed. After execution, you can view the MX tokens you purchased in the "Open Positions" section.
2.2 App
1) Open the MEXC App, log in to your account, and tap on [Trade] at the bottom to access the spot trading page.
2) Select [Limit] as the order type.
3) Fill in the "Price" and "Quantity" fields.
4) Choose whether to check the "TP/SL" option for setup.
5) Tap [Buy MX] to place the spot limit order for MX.
6) Your limit order will be displayed under "Open Orders."
7) When the market price reaches or exceeds the specified order price or a better price, your limit order will be executed. After execution, you can view the MX tokens you purchased in the "Positions" section.
The process for selling with a limit order is similar to buying. Enter the price and quantity of MX you want to sell, then click [Sell MX] to place the limit sell order. Your order will be displayed under "Open Orders."
When the market price reaches or exceeds the price you set or a better price, your limit order will be executed. After the order is executed, you can view the corresponding USDT tokens in the "Positions" section.
Disclaimer: This information does not provide advice on investment, taxation, legal, financial, accounting, consultation, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. The platform is not responsible for users' investment decisions.