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