Trade Orders: A short guide

NEYCO
NEYCO
Nov 1 · 3 min read

Our goal is to make crypto trading as easy as possible and offer trading features for both beginner and advanced traders. Trade orders are automated actions you place to execute your strategy. The different crypto exchanges have different trade orders that allow you to trade without being glued to your computer, waiting for certain conditions to be met. Setting a stop-loss after entering a long position, for example, is a must to protect your assets and minimise losses. But there’s more to placing automated orders and we’ve done the work to provide you with the most useful ones when it comes to crypto trading:

Market Order
Market order is for when you want to buy or sell an asset at the current market price. Your trade will be executed as soon as there are buyers and sellers. Use market order when you want to buy an asset, rather than wait for a better price.

Limit Order
Limit order is for when you want to execute your trade at the best price possible. If you want to buy crypto, then your order will be filled at the price you set or less. Contrary, when you sell, your order will be executed at or above the limit price.

Stop Market
Stop market executes your trade when the market reaches a certain price. The cryptocurrency market is highly volatile and this is why it’s essential to use a stop order. It helps them protect their assets by setting a stop loss or taking profit.

Stop Limit
The difference between the stop market and stop limit orders is that the limit one lets you buy or sell a specific price or better. This order gives you a little more flexibility when you’re holding an asset and your take profit or stop loss have been reached.

Trailing Stop Market
Trailing stop market recalculates the stop loss, without setting a limit on the maximum profit. It lets traders set a percentage below the market price and sell when this percentage is reached. The trade is then executed at the market price.

Trailing Stop Limit
Trailing stop limit is similar to the market one, but it lets you specify the limit offset price that’s above or below the market price. When that price moves in a favourable direction, the trailing stop limit readjusts.

Fill or Kill
Fill or kill order lets you execute your trade immediately, or in a few seconds, otherwise it’s cancelled. No partial fulfillments are allowed. The name speaks for itself — your order either gets filled or it gets killed. It’s all or nothing.

Immediate or Cancel
Immediate or cancel is similar to fill or kill — your order is executed immediately or it’s cancelled. The only difference is that this order lets you buy or sell as much as possible, and then cancels the rest.

Reserve Order
Also called the iceberg order, reserve orders let you buy or sell large amounts of crypto. It divides your order into smaller ones so that other traders can’t see that you’re making a big move on the market.

NEYCO

NEYCO stands for mo(ney + co)in. It’s an ecosystem of fintech solutions that create a better bridge between fiat currencies and cryptocurrencies. Trade crypto with fiat, take a loan with crypto as collateral, or keep your funds safe with NEYCO. Follow us for updates and insights.

NEYCO

Written by

NEYCO

NEYCO stands for mo(ney + co)in. It’s an ecosystem of fintech solutions that create a better bridge between fiat currencies and cryptocurrencies.

NEYCO

NEYCO

NEYCO stands for mo(ney + co)in. It’s an ecosystem of fintech solutions that create a better bridge between fiat currencies and cryptocurrencies. Trade crypto with fiat, take a loan with crypto as collateral, or keep your funds safe with NEYCO. Follow us for updates and insights.

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