Navigating the world of cryptocurrency trading requires an understanding of various order types. BTZO offers a diverse range of order types to cater to different trading needs and risk management preferences.
Whether you seek immediate execution with Market Orders, precise control with Limit Orders, or automated strategies with Stop and Take Profit Orders, our platform empowers you to trade confidently and efficiently. Explore the following order types to elevate your trading experience on BTZO.
Limit Orders
Limit Orders enable traders to specify a precise price at which they want to buy or sell an asset. These orders are placed in the order book and executed when a matching bid or ask price is found.
Market Orders
Market Orders execute instantly at the current market price. They are ideal for traders who require immediate execution. Market Price orders will execute the best bid or ask price in the orderbook.
Stop Orders
Stop Orders are placed at a user-specified trigger price and become activated when the market reaches that trigger. They can serve as risk management tools or automate entry into the market. Stop Orders can be placed under the Advanced tab.
What are the two types of Stop Orders?
Stop Limit Orders: These allow users to set both a trigger price and an order price. When the trigger price is reached, the order is placed.
Stop Market Orders: Users set a trigger price, and when the market price meets the trigger, a Market Order is placed.
In the case of all stop orders, the order is activated when the market price either matches or surpasses the trigger price. During the execution of a stop order, you may encounter three possible statuses:
OPEN: Your order is awaiting the fulfillment of its conditions.
TRIGGERED: Your order has been successfully placed.
FILLED: Your order has been entirely executed.
You can locate the status field within the Order panel in the lower trading window.
Take Profit Orders
Take Profit Orders allow users to specify a trigger price at which Market or Limit Order instructions are executed. They are used to secure profits when a certain price level is expected to be reached. Take Profit Orders can be placed under the Advanced Tab.
What are the two types of Take Profit Orders?
Take Profit Limit Orders: Users set a trigger price and an order Price. When the market price hits the trigger, the order is placed.
Take Profit Market Orders: Users set a trigger price, and when the market price hits this trigger price, a market order is executed.
In the case of take profit orders, the order is activated when the market price either matches or surpasses the trigger price.
The status of Take Profit orders can be found under the Active Orders tab. During the execution of a Take Profit order, you may encounter three possible statuses:
OPEN: Your order is awaiting the fulfillment of its conditions.
TRIGGERED: Your order has been successfully placed.
FILLED: Your order has been entirely executed.
Trailing Stop Orders
Trailing Stop Orders help traders secure profits and limit losses as market prices fluctuate. Unlike regular Stop Orders, their trigger price is based on recent market price changes. This implies that the trigger price will consistently adjust based on the variation between the maximum value observed since the stop order was initiated and a user-defined trail value. Trailing Stop Orders can be selected under the Advanced tab.
Trigger Price: As per the image, when the market price rises and reaches the Trigger Price (27,000 in the example), the trailing stop becomes active.
Trail Value: The image shows a Trail Value of 1,300. This means if the market price were to drop by this amount from its highest point after activation, the sell order gets triggered. For example, the market price in this figure rose to 37,000. However, when it dips by 1,300 to 35,700, the order will be executed.
Size: This represents the size of the trigger order.