Understanding Order Types In Crypto Futures Trading

Cryptocurrency futures trading is a lively and profitable business that lets users make money from changes in the prices of cryptocurrencies without actually owning them. But to get around in the world of crypto futures you need to know a lot about the different types of orders. These orders tell the market how to trade and are very important to the success of a trading plan. 

This post will detail the various types of orders in crypto futures trading, giving you the information you need to make smart trading decisions. Through our connected dealer Prime XBT, Ontilt Trading has valuable resources and tools for traders who desire to improve their skills and get the most out of their trading experience. Remember that everyone who uses the offer code PRIMEOTT will get an extra 7% on their cash. Let's learn about the different orders that can be used when buying crypto futures.

Market Order

A market order tells the exchange to buy or sell a coin immediately at the best price. Traders put speed over price when completing a market order to enter or leave a spot quickly. Market orders guarantee immediate completion but slippage can happen mainly when more fluctuation occurs. Through our connected dealer Prime XBT, Ontilt Trading makes it easy for buyers to carry out market orders.

Limit Order

Traders can set a limit order to tell the market what price they are ready to buy or sell a coin. Limit orders give you more power over the completion price than market orders. Traders set a maximum price and the order will only be carried out if the market hits that price. Limit orders ensure that the price stays the same but they might only be met if the market hits the price set. Ontilt Trading has detailed tips on how to use limit orders to make trading methods work better.

Stop Order

A stop order also called a stop loss order automatically places a market order when the price of a coin hits a certain level. This is done to limit possible losses. Stop orders are a way for traders to lower risk and keep their capital safe from bad price changes. Traders can be more disciplined and make fewer emotional decisions using stop orders. Ontilt have learning materials that show you how to use stop orders correctly to lower your risk when dealing with crypto futures.

Stop Limit Order

Stop and limit orders can be used together in a stop limit order. It has two essential parts: a stop price and a ceiling price. The order changes to a limit order when the stop price is hit. It will only be carried out at the limit price or higher. Stop limit orders give you more control over execution but they might only sometimes promise instant execution in markets that are moving quickly. Ontilt Trading shows how to use stop limit orders as part of a larger plan for managing risk.

Trailing Stop Order

A tail stop is a dynamic stop order that changes when the market price moves in the trader's favor. Traders can lock in profits while still leaving room for possible further gains. Trailing stop orders move behind the market price by a certain amount of time or percentage. This gives traders more options for following market trends. Traders can learn how to use trailing stop orders correctly at Ontilt dealing to make the most money possible when dealing with crypto futures.

Fill Or Kill Order

A fill or kill order needs to be carried out right away or stopped, literally killed. It is often used for big orders to ensure they are completed quickly and without any half fills. Fill or kill orders are suitable for traders who want to ensure their trades will be executed at a specific price. Ontilt Trading has lessons on carefully using fill or kill orders to handle big accounts in crypto futures trading.

Immediate Or Cancel Order

A quick or stop order is like a fill or kill order but it lets some things happen. If the whole order can't be filled right away the part that can't be filled is deleted. Traders try to get liquidity by using quick or cancel orders and are okay with taking partial fills. Ontilt Trading advises using instant or cancel orders to get the best order processing and liquidity management in future crypto trading.

Post Only Order

A post only order ensures that it is only added to the order book as a maker order which means that it won't be executed against any other orders on the book. Traders use post only orders to avoid paying fees and could get maker refunds instead. Traders add the market depth and liquidity to the order book. Ontilt Trading teaches users how to use post only orders to get the most out of trading costs and market effects in crypto futures.

Conclusion

To make good decisions in the constantly changing cryptocurrency markets you need to know about the different orders that can be placed in crypto futures trading. Learning about the various types of orders can help you trade better and more efficiently regardless of your experience. Many tools and training materials are available on Ontilt Trading to help buyers on their way. 

Remember, everyone who uses the coupon code PRIMEOTT will earn a +7% bonus on their deposit. With Ontilt Trade, you can start making the most of your trade potential right away. Don't forget to use our referral link for Prime XBT to access a safe trade site where your orders will be carried out quickly and easily.