Yesterday I mentioned a few gameplay strategies out of boredom, and I saw that some friends seemed to be unaware. Today, out of boredom, I’ll talk about limit orders.
I: Limit Order Buying on BSC Chain Earns Quadruple Points
That is to say, usually we trade a volume of 32768 at 16 points, and by using a limit order to buy 16384 on the BSC chain, we can obtain a volume point of 16 (remember, sell orders do not count), which undoubtedly greatly reduces our daily costs.
II: Limit Order Trading
For friends trading stablecoins, limit order operations have significantly reduced the difficulty. Taking the above image of Koge as an example, when we trade using limit orders, we can observe the transaction records on the left. First, observe whether the fluctuation of transaction prices is large or small, then choose the price with the most transactions to trade. For example, you can directly click on the price of 48.009201 to enter the trade. If the order has not been filled after three seconds, you can choose to cancel the order and observe if the price has changed significantly. If it hasn’t, then adjust the price to 48.009202 or decrease it by 1-2 for the transaction. Then quickly switch to sell at the same price as a limit order. If it’s hard to trade, decrease the last number by 1-2 and place the order again.
In the absence of fluctuations, you can quickly buy and sell according to the system's recommended price. The wear and tear can be slightly larger 🤏. It is recommended to use this when short on time; otherwise, it’s better to input the price directly (trading at the recommended price will be slightly lower than the buying price; for example, buying 1000 will normally transact around 990, so be careful when calculating transaction volume).
III: Risks of Limit Orders
Since limit orders are placed on the order book and executed by market orders, it can be difficult to execute in the case of a sharp decline. Therefore, how to quickly minimize losses in such situations is a crucial issue. I have already experienced three or four trades with declines. 😭
I have my own escape method for this.
I: Due to the delay in the intraday line, when normal trading (fast execution speed) suddenly encounters difficulty in selling, I will immediately cancel the order and choose to sell quickly at the system's recommended price. Sure enough, I lost a few points, and soon after, the intraday line began to drop (this method has helped me avoid losses many times).
II: In the case where the aforementioned methods cannot sell, it is highly likely that one is already in the middle of a downward trend. At this point, I would immediately switch to a market order to sell, and the loss reduced will be exactly that much. Generally, a trade of 1000 will lose between dozens to a few tens, and escaping from the decline is usually from the middle, not the bottom. Friends trading stablecoins are advised not to wait, as it is difficult to return to the original price.
Trading has risks, being cautious is not wrong.
Finally, I wish everyone gains something on Binance~
Wishing $ETH
Big $BNB