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Trade smarter with Limit Orders on PDAX

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PDAX

June 10, 2024

2 min read

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Limit Orders

A limit order provides traders with the direction to purchase or sell a security at a specified price or better. Unlike market orders, which execute immediately at the prevailing market price, limit orders offer traders the ability to dictate the price at which they are willing to transact.

The benefits of limit orders include:

- Price Control: Traders can specify the price at which they want to execute their trades, ensuring they get the desired price or better.

- Risk Management: By setting predefined prices, traders can avoid buying too high or selling too low, thereby minimizing potential losses.

- Avoiding Market Volatility: Limit orders help traders avoid the impact of sudden price fluctuations by only executing trades at specified prices.

- Automation: Once set, limit orders can execute automatically when the market reaches the specified price, allowing traders to trade without constant monitoring.

Limit Orders on PDAX

You can now set your Limit Orders on the PDAX app! Accessible for download on both the App Store and Google Play Store.

Download the PDAX app here.

👀 How to Set Up Limit Orders on PDAX

1. Go to the “Limit” tab on the token trade page.

2. Select the type of limit order (buy or sell).

3. Indicate the limit price

For BUY Limit Orders
- You can buy at the market rate or lower (within a specified range per token), but not above the prevailing market price with our limit order feature.

For SELL Limit Orders
- You can sell at the market price or higher (within a specified range per token), but not below the existing market price.

4. Input total order amount.

5. Click “Place Order”.

🛒 Viewing your Limit Orders:

You can have 5 open orders per token at a time.

To view your open orders, click the “Open orders” count button on the lower-left portion of your screen.

To view order history, click the clock icon on the upper-right corner.

To view order details, click the “Open” button for each order.

To cancel your existing limit order, swipe left.

About PDAX

PDAX is a BSP-licensed exchange where you can trade Bitcoin, Ethereum, and other cryptocurrencies directly using PHP!

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