GajarX offers several order types via the Order Form box to give you the tools necessary to execute your trading strategy successfully.
Additionally, there are order “options” as well:
A limit order is one of the most basic and most common order types. As a trader you can open a limit buy/sell order. It allows you to specify a price and amount.
Example: Current market price is 1500 and you would like to buy lower than that, you would place a limit buy order at 1449. If a seller would like to sell at 1449, seller’s ask matches with your bid and your limit order executes at 1449. And the current price of market wil be 1449.
A market order is an order type that executes immediately according to amount what you want. The price does not matter at a market order. Because a market sell/buy order matches the best available bids/asks on the order book. If trader prefers to buy/sell immediately at the current best price, trader places a market order.
Note: For example, if current market price is 1500 and you want you buy 5 coins at this price, but there is not 5 at 1500, 3 coins at 1500, 2 coins at 1550 in order book, you get the amount what you want (5 coins) at different prices.
A stop-limit order similar to limit order. The only difference is that a stop-limit order needs to a trigger price.
If current market price reaches the stop price, your stop-limit order will be triggered. If stop price of a stop-limit order is triggered, the limit order is automatically added to the order book at limit price. If current market price doesn’t reach your stop price, it wont be triggered.
Example: If a trader would like to buy if the market price reaches 1500, but not want to pay more than 1550, then put a stop-limit order stop price at 1500 and limit price at 1550 at the same time. If the market price reaches 1500, the order is triggered and will match the best available asks up to 1550. If the market price moves to 1550.01 or up, then the order may go partially unfilled due to the limit price.