Trading in binance and in the Crypto currency space in general means exchanging one currency code with another currency code. Trading is a fundamental concept in economics that includes the buying and selling of assets; It may be an asset of goods or services for which the long-term buyer pays a sum to the seller; But in this article, we intend to specifically introduce the various trading methods in Bainance.

What are the types of trading methods in Bainance?

Trading in Bainance means the same as registering an order in an exchange office. In fact, when you trade stocks or cryptocurrencies, you are communicating with the financial markets by placing an order. Types of trading order registration in Bainance are:

Labels: Order to build a Forex robot , Build a stock trading robot , Build a trading robot , Trader robot design , Free Forex Robot , Forex robot programming , Forex Expert Making Tutorial , Build a trading robot with Python , Download Forex Trading Robot , Buy Forex Trader Robot , Automated Forex Robot , Free stock trading robot ,  Learn how to build a Forex trading robot , Alpari trading robot , Forex robot for Android ,  MetaTrader robot design , MetaTrader robot programming , Forex robot design , Forex robot programming , Automated trading

Market order

Registering an order for buying and selling fast and at a market price is called a market order. Imagine for a second you were transposed into the karmic driven world of Earl.

In this way, without waiting for the price to drop, you pay $ 45,000 and buy three bitcoins; In this case, you have registered a market order order.

The method of market order trading in Bainance is buying and selling. In this way, you want to make a new deal with the best price available in the market; But the interesting thing is that the best price is not always what is displayed in the market.

In fact, the best price depends on the orders in the order  book  . By checking the order book, you can register your transaction at a price different from the market rate.

Therefore, Market Order is only suitable for fast trades. In this trading method, it is very likely that a high price will be recorded for the purchase, but if a similar transaction is made with a limited order, it will cost less for the person.

Limited order

It is an instruction during which the buy or sell order remains in the queue until the market reaches the price limit.

For example, imagine someone else trying to sell three bitcoins. By placing a limited order, he wants the exchange to  sell his 3BTC when the price of each bitcoin reaches $  15,000 ; Therefore, the sale was not done quickly and we are waiting in line for the price increase. Limited orders are stored in the Bainance Exchange in a section called the  Order book  .

The types of trading methods in Bainance were briefly described, of course, each of them has different types and depending on the type of trading, they do different things, which we will discuss in the following:

Common types of orders

One of the simplest trading methods in Bainance is buying order market, selling order market, buying limited order and selling limited order. You can limit your trades to these four methods, but there are a variety of other methods available on the Binance platform that will help you trade better. These methods include:

Order STOP-LOSS ORDER

Stop loss order is one of the trading methods in Bainance. As the name implies, the loss limit order is designed to protect the user from any kind of loss. This trading method is often suitable for beginners, but in general, stop-loss ordering helps you to determine the favorable conditions for trading before entering into a trade.

Since in this type of trading, instead of the market, you are the one who sets the price for sale, Staplus can be considered as a limited order. However, the Staplus order was not added to the book order, and after the price reached the specified limit, Bainance Exchange will transfer the order to the order market section.

STOP-LIMIT ORDER

Stop limit or limited order is another trading method in Bainance. This tool is designed to limit the amount of trader losses in trades. Stop Limit is somewhat similar to Stop Loss, but with one extra step. For example, if Bitcoin is traded at $ 10,000 and you set a stop order for $ 9,990, if your price drops to $ 10, your asset will be sold. Of course, it is necessary to determine two parameters, namely stop  price  and  limit price  . In the example above, your stop price may be $ 9,985, according to which the exchange will set a price limit of $ 9,990 for your limited order.

So if the price reaches the price limit, you can sell your assets at $ 9,990 or higher. However, the order will be registered only after reaching the stop price.

But it is still possible that the price has not improved and will not reach the price level set. In this case, there is no guarantee and the price may fall below $ 9,985.

Set up two orders simultaneously (OCO)

Trading in Bainance is possible by setting two orders at the same time. This method of trading is called  One-cancels-the-other  . OCO is  a sophisticated tool that allows you to combine and record two loss and limit orders at the same time. In this case, as soon as one of the orders can be executed, the second order will be automatically deactivated and deleted.

For example, suppose the price of Bitcoin is equal to US $ 000/10 with custom settings  OCO  just stop loss and limit order to simultaneously set. In this way, if the price reaches $ 9,900, buy Bitcoin and if it reaches $ 11,000, sell it. If either happens earlier, the other will be canceled automatically.

The concept of “time required” trading in Bainance

To master trading in Bainance, it is essential to be familiar with the concept of “binding” time. This parameter is specified at the start of a trade and determines the expiration date.

Order without time limit or Good ’til canceled

It is an instruction according to which the transaction must remain open until it is executed or canceled manually. Currency cryptocurrency trading platforms are generally on this option by default.

In the stock market, there is another common option by which orders are closed at the end of the trading day; However, since the Crypto currency market is active 24 hours a day, seven days a week, the use of the GTC option is   more common.

Immediate Order or Cancel Immediate Or Cancel

Immediate ordering or cancellation is a trading method in Bainance and trading markets in general. In this method, all or part of the order must be executed immediately and in case of non-execution of any of its parts; The rest of the order will be canceled completely.

For example, suppose you set up an order according to which you have to buy 10 bitcoins for $ 10,000; But you can only pay  5BTC  at the specified price. In this case, you only buy  5BTC  and the rest of the order will be canceled.

Order to do or cancel Fill or Kill

The  “do  or  cancel” order  must be made in one go and in full, otherwise the order will be canceled in full.

For example, you register an order according to which you intend to buy  10BTC  for $ 10,000; But if all 10BTC orders  at the specified price are not immediately  available in the market, your entire order will be canceled at once.

Frequently Asked Questions

• What is the difference between “Fill or kill” order and “Immediate Or Cancel” order?

The order must be completed or canceled in full, and if the conditions for full completion are not met, the entire order will be canceled at once, while in an immediate order or canceled, if part of the order can be placed, part of the order will be done and the rest will be canceled.

• What is the difference between a market order and a limited order?

In ordering Market Order, buying and selling assets will be done quickly and after registering the final order. In this method, trading in Bainance is not guaranteed in the transaction price; But in a limited order, the purchase and sale order of the asset remains in the queue until the purchase or sale price reaches the user’s desired price.

Conclusion

Mastering a variety of Bainance trading methods is critical to doing good trading on this platform. It does not matter if you intend to use a loss order or  combine two orders through an  OCO order, what is needed is to be aware of the various tools that are provided to users to do good trading.

Labels: Order to build a Forex robot , Build a stock trading robot , Build a trading robot , Trader robot design , Free Forex Robot , Forex robot programming , Forex Expert Making Tutorial , Build a trading robot with Python , Download Forex Trading Robot , Buy Forex Trader Robot , Automated Forex Robot , Free stock trading robot ,  Learn how to build a Forex trading robot , Alpari trading robot , Forex robot for Android ,  MetaTrader robot design , MetaTrader robot programming , Forex robot design , Forex robot programming , Automated trading