Understanding Different Order Types on Binance Trading for +#订单类型解析

Helps Optimize Trading Strategies and Manage Risks

The following are common order type explanations:

Limit Order

- Definition:

Users pre-set their expected buy or sell price and trading quantity.

The system automatically executes when the market price reaches or exceeds the set price.

- Features:

Allows precise control over trading prices, avoiding slippage losses.

However, if the market price does not reach the set price, the order may not be executed.

Some exchanges offer validity options such as "Good 'Til Canceled (GTC)"

"Immediate or Cancel (IOC)" for complete execution

or "Fill or Kill (FOK)" for immediate cancellation.

- Applicable Scenarios:

Suitable for traders with clear expectations of target prices, not pursuing immediate execution

and sensitive to price changes.

For example, if predicting that the Bitcoin price will rebound below 100,000,

a buy limit order can be set at this price level.

If anticipating Ethereum to rise to 4,000 dollars and may pull back,

a sell limit order can be set at that price level.