By using pre-set orders correctly in futures trading, you can stop loss and gain profit effectively without much effort.
Limit order is an order that limits the maximum buying price of the buyer, and the minimum selling price of the seller.
After your order is placed, our system will post it on the book, and match it with the orders available - at the price you specified or better.
Limit order serves the opposite purpose of stop loss order.
If the current BTC weekly futures contract market price is 13000, and you wish to buy at 12900. When the price drops to 12900 or below, the pre-set order will be triggered and filled automatically.
On the contrary if you wish to buy at 13100, under the rule of buying at a price more favorable to the buyer, your order will be triggered and filled at 13000 immediately, instead of waiting the market price to rise to 13100.