Types Of Trading Orders On Huobi Exchange

Trading orders are tools that are very essential for traders. These orders help traders to know which action to take while trading. We have different types of trading orders on Huobi Exchange. Although, It is not necessary to use them all, some veteran traders use them all according to their trading strategies. 

The trading order seems complicated but knowledge about it will make it an easy one. Here are the types of trading order we have

LIMIT ORDER

This order allows traders to place orders in an order book. Limit order is not instant. It allows traders to place orders for a preferred better price. When the orders in the order book get to the right price level, the order would be filled. You can set your limit order at a price higher or lower than the current price. Once the market price reached your set order, the price would be triggered to execute the task given automatically.

MARKET ORDER

In market order, the trader can buy or sell crypto immediately at the best available current  price. The trade is completed immediately. It is not like the Limit order. Your trade will be completed close to the initial price or instantly after you placed the order. Market order is instant. No need for an order book. This is another recommendation for crypto beginners after Limit order.

STOP LIMIT ORDER

This consists of stop price and limit price. It enables traders to decide on the comfortable profit levels and loss levels that can sustain their strategy.

The stop price triggers the limit order while the limit price is the price that limits the order. In Stop-Limit Order, when the price reaches the specific 'stop price',the exchange puts the limit order inside the order book. 

So the Stop-limit Order involved two different order types- limit order and stop-loss order. This is an advanced type of trading order.

TRIGGER ORDER

In trigger order, the traders can pre-set their order in an automatic manner. When a trigger order is made, the price get placed automatically once the market price reaches the trigger order price. In trigger order, it can either be a limit order or market order. For you to use trigger order, you need to have a good hypothesis about future price movement. This order should be used to prevent unnecessary risk of big loss.