💸Limit Orders

Let’s review the preferences and mechanics of creating a Limit Order.

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Understanding Key Parameters

Slippage and Target Price may seem confusing at first, so here’s how they work:

• These two parameters do not combine like simple addition. Instead, they are applied sequentially during the order process.

• Target Price: This is the trigger. When the market reaches this price, the order is sent to the blockchain for execution.

• Slippage: This applies only after the order is triggered and execution begins. It defines the acceptable price gap during the short window of execution on the blockchain.

Think of slippage as a buffer zone in case the market price changes slightly between the trigger and actual execution.

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Expiry Parameter

You can set the order expiration period to:

• 1 day

• 3 days

• 7 days

After the selected time, if the order hasn't executed, it will be automatically cancelled.

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Placing a Limit Order

Once you've set:

• Target Price

• Slippage

• Amount

• Expiry Time

Tap the CREATE LIMIT ORDER button to finalize and submit your order.

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Managing Active Orders

All your active limit orders are listed in the ORDERS section.

Here, you can:

• View detailed parameters of each order

• Cancel any active order at any time