Crypto Exchange Orders - What are the Types?

 Common Order Types

Stop - Loss Order

Stop - Loss order is designed entirely to protect traders from significant losses. It is a kind of limit order, one can predefine the price of an asset but it will not be added in the order book. The Exchange platform consider it as a market order and convert it as a market order when the defined price value hits

Stop - Limit Order

Stop - Limit Order is the same as the stop loss order but you can define stop price as well as limit price. It lets you set a limit between the range of values. For Instance , one can set a limit order as 9K USD and 9100 USD for 1 USD.

One Cancels the Order (OCO)

It is the kind of tool where one can combine two orders and a trader can execute one  among them which is most  favourable for the market. then the other order cancelled automatically. 

For example, The Price of BTC is 30K USD, one can place both buy order and sell order if the BTC price increases, he uses sell order and if the price decreases, he uses buy order.

Immediate or Cancel (IOC)

It facilitates users to cancel the orders which are not filled. If you order 20 BTC but at the execution price, you only get 10 BTC, the rest of the order would be closed.

Kill or Fill Orders (FOK)

Fill or Kill facilitates to fill the order immediately or cancel it. If a trader orders 20 BTC, If half of the order is filled in a certain time, the entire order would be cancelled.

Conclusion

There are many more different kinds of order types out there in cryptocurrency exchanges, Traders need to think out of the box and make use of some kinds of order types to sustain in the capricious cryptocurrency market. When we dig deep into these kinds of stuff, we will realize the truth that cryptocurrency trading is not a risk but one needs deep analysis.The above lists are not only helpful for traders but also for the young budding entrepreneus who are willing to start their own cryptocurrency exchange. 

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