📈How to use LIMIT ORDER on STASHAPP

What is a limit order?

A limit order is an order with a specific buy or sell price. To place a limit order, you need to set a maximum or minimum price you’re willing to buy or sell an asset. Your order will then be placed on the order book and will only be executed if the market price reaches the limit price (or better).

Unlike SWAP, where trades are executed instantly at the current price, a limit order gives you more control over the execution price. As limit orders are automated, you don’t have to watch the market 24/7 or worry about missing a buy or sell opportunity while you sleep.

However, there is no guarantee that your limit order will be executed. If the market price never reaches the limit price, your trade will remain unfilled on the order book. Typically, a limit order can be placed for up to a few days.

You can place a limit order by selecting the asset from the main screen (fig. 7.1a) and accessing the order book by clicking on the top left (fig. 7.1b)

(fig. 7.1)

In this example we will place a buy order for CANNACOIN on the pair CANNACOIN/XLM After choosing which pair to place the order on (fig. 7.2a) Simply select the "direction" by choosing between BUY and SELL (fig. 7.2b) we can then set the amount of CANNACOIN we want to buy (fig. 7.2c), the price in XLM at which we want to buy (fig. 7.2d) and the amount of XLM we want to spend (fig. 7.2e). Finally, confirm the order by clicking on "Place buy order" (fig. 7.2f).

To check and if necessary delete active orders, click on the corresponding button (fig. 4)