Limit orders

Rather than having to continuously monitor prices, traders can set limit orders with an exchange. These are instructions to execute trades when a currency price hits a certain level.

Limit orders can be used for buying or selling.
· For buy orders, this is an instruction to buy a certain amount of currency at a limit price or lower
· For sell orders, the instruction is to sell at the limit price or higher
A strong feature of the Bit.Team exchange is that there is a high level of automation for orders set by users, including those using bot-to-bot trading.
Look out for further articles, where we will look at other trading terms, including order books, makers and takers, market orders and stop orders, using bots and others.