Content of this article:
What is A Limit Order?
A limit order means you place an order on the order book at a specific limit price (you determine the limit price). It will be executed only when the market price reaches your limit price (or better). If the market price does not reach the price you set, the limit order will remain valid. You will be able to place limit orders to buy an asset at a lower price, or sell it at a price higher than the current market price.
A limit order is a choice if you are not in a rush to buy or sell. Unlike market orders, limit orders are not executed immediately. So you need to wait until the price matches your bid or ask price. Limit orders will give you better bid and ask prices, so they are usually placed at some major support and resistance levels. You may also split your buy or sell orders into multiple limit orders, which will help you achieve the cost averaging goal.
How to Place Limit Buy Orders
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Step 1: Log in to your account at XT.com.
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Step 2: Click the [Trade] - [Spot Trading] button at the top of the page and select a trading pair. Then click the [Spot] - [Buy] - [Limit Price] button.
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Step 3: Enter the price you want to buy. For example, if you want to buy XT at the price of 2 USDT, then enter 2 USDT.
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Step 4: Enter the quantity of XT you want to buy at [Quantity] directly. Or, you can drag the adjustment bar below [Quantity] to customize the percentage of your spot balance that you want to use for the order.
For example, you have 100 USDT and you want to use 100% of it to buy XT. Drag the adjustment bar to 100%, and the system will automatically calculate the amount of XT you can buy with a limit order.
- Step 5: Confirm the price and quantity, then click [Buy XT] to place a limit buy order. Once the market price reaches your limit price (or better), your limit order will be executed. When the limit order is completed, you will be able to check the order details in [Transaction History].
How to Place Limit Sell Orders
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Step 1: Log in to your account at XT.com.
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Step 2: Click the [Trade] - [Spot Trading] button at the top of the page and select a trading pair. Then click the [Spot] - [Sell] - [Limit Price] button.
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Step 3: Enter the price you want to sell. For example, if you want to sell XT at the price of 3 USDT, then enter 3 USDT.
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Step 4: Enter the quantity of XT you want to sell at [Quantity] directly. Or, you can drag the adjustment bar below [Quantity] to customize the percentage of your spot balance that you want to use for the order.
For example, you have 100 XT and you want to use 80% of it to sell XT. Drag the adjustment bar to 80%, and the system will automatically calculate the amount of USDT you can sell with a limit order.
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Step 5: Confirm the price and quantity, then click [Sell XT] to place a limit sell order. Once the market price reaches your limit price (or better), your limit order will be executed. When the limit order is completed, you will be able to check the order details in [Transaction History].