Creating a Spot Limit Order is almost identical to creating a Spot Market Order. The only difference is that the position is not opened immediately at the current market price, but instead, a Trader sets the Limit Price (different from the current market price) at which the desired position will be opened when the market price reaches this Limit Price.
To learn how to create a Spot Market Order, kindly refer to How to create a Spot Market Order.
In this guide, we will cover the difference between creating a Market and a Limit Order.
First, you need to switch to the Limit order option in the Trading Widget on the right.
After you do so, a new field will appear - Limit Price which you will have to set.
Let's take an example. Imagine you want to open a long position on WBTC, i.e. buy it when its price falls to a certain level, e.g. 23000 USDC. The current market price is around 25500 USDC, so the limit price must be lower than that.
NOTE: At this point, we do not support Stop Buy Limit orders where you can set the Limit price higher than the current market price.
So, you enter 23000 into the Limit Price field:
In addition to the Limit Price, Traders can decide on the time they are ready to wait till the market price reaches their anticipated Limit Price. Primex has the option to automatically cancel the order after a specified period. To realize this technique, you will have to set the Expires In parameter.
Custom gives you the most flexibility:
NOTE: No cancellation fee is charged when the order is canceled due to the Experis In parameter.
That's everything you need to know to work with Spot Limit Orders. All the rest of the steps are the same as for the Spot Market Orders.