Bitcoin Orders

There are different types of trade orders which a btc usd trader can use to trade in Bitcoin.

At the foundation of successful bitcoin trading is making use of correct btcusd order for the correct purpose. Most crucial and important thing to remember is: Always understand the orders you place. Never place a btcusd cryptocurrency order which you as a bitcoin trader are not entirely knowledgeable about. Shown below are some basic definitions of the often used types of trade orders:

Types of Bitcoin Trading Market Orders and Pending BTCUSD Orders

Market Crypto Trade Order

This is the most basic type of trade order, market order is used to buy/sell at prevailing ask or bid bitcoin trading quote bitcoin price. This refers to the quoted bitcoin price which appears & is illustrated on your bitcoin platform.

This type of trading order is used for buying/selling in accordance to the prevailing exchange rate quotation in Bitcoin Trading, the execution is instantaneous. The minute you want to enter a position you as a bitcoin trader can buy & sell bitcoin crypto at a click of a button using a market order.

Entry Bitcoin Orders

These are orders used to execute a new trade after the btcusd trading market reaches a bitcoin price given by the trader.

Entry orders are used to buy/sell bitcoin when it gets to a certain bitcoin price target.

When a specific btcusd crypto price level is reached or broken then a btcusd crypto entry trade order is opened.

These Entry Bitcoin Orders are used to enter a bitcoin trade at a specified bitcoin price level. It is almost impossible to monitor the bitcoin market every second & this is why an entry order can be handy. If you feel the crypto trading market may take a certain action, like break through a particular bitcoin cryptocurrency price level which it has been testing(touching) but it has not been able to break, you'd want to use an Entry Limit Bitcoin Order. Once the bitcoin trading market crosses your given level, your entry limit bitcoin cryptocurrency trade order is triggered.

There are 2 various types of entry orders - limit btcusd crypto order & stop entry order.

These entry orders are also referred to as pending btcusd crypto trade orders.

Entry Limit Bitcoin Order

An order to buy/sell at a specific limit.

An entry limit bitcoin order can be used to open buy trade below the prevailing bitcoin price or sell above the prevailing bitcoin price.

When buying, entry limit is opened/executed when the bitcoin price drops to your limit zone that you have set.

When selling, entry limit is opened/executed when the bitcoin price rises to your limit zone that you have set.

These Entry Limit Bitcoin Orders are placed by btcusd traders when they expect the bitcoin trading market to bounce back after reaching to the bitcoin price level which the entry limit was placed.

Buy Limit BTC/USD Crypto OrderSpecifies to open a buy trade at a price that is below the prevailing market bitcoin price

Sell Limit BTC/USD OrderSpecifies to open sell trade at a price that is above the prevailing market bitcoin price

How to Set Buy & Sell Stop Bitcoin Order on MetaTrader 4 - How to Set a Pending Bitcoin Order in the MetaTrader 4 Platform

Entry Stop BTC/USD Crypto Order

An entry stop pending order to open buy above the current bitcoin price or to open a sell position below the prevailing bitcoin price.

When buying, entry stop is executed as the btcusd trading market goes up & hits the buy stop level.

When selling, entry stop order is executed as the btcusd trading market goes down and hits the sell stop level.

Buy Stop BTC/USD Crypto OrderSpecifies to open buy trade at a price that is above the prevailing market bitcoin trading price.

Sell Stop BTC/USD CryptoCurrency OrderSpecifies to open sell position at a price that is below the prevailing market bitcoin trading price.

How to Set Buy & Sell Stop Bitcoin Order in MetaTrader 4 - How to Place a Pending Bitcoin Order in the MetaTrader 4

Learn More Guides: