A Limit Order enables you to buy or sell at your chosen price. Your limit order will be executed if the market hits your limit price. Conversely, your order will not be executed if the market does not reach your limit price.
How to place a Limit Order
1. Firstly, log in to your Bitfinex account on the Bitfinex mobile app.
2. Then, select the Trade tab.
3. Here, you can select the relevant trading pair from the ticker to Buy or Sell.
4. Next, select Limit from the drop-down menu.
5. Then, fill out the price that you want to buy or sell at.
You can also click on BID to get the best bid price or the ASK to get the best ask price directly.
6. Next, fill out the amount and proceed to preview the order.
Alternatively, you can select the 25%, 50%, or 100% to allocate your available balance.
How to use a Limit Order
A Limit Order is one of the most basic and widely used order types as it allows you simply to specify a price and amount you would like to buy or sell.
Example: If the current market price is 250 and you want to buy lower than that at 249, then you would place a limit buy order at 249. If the market reaches 249 and a seller’s ask matches with your bid, your limit order will be executed at 249.
You can find more information about additional Bitfinex Orders here.
If you have any questions about the limit orders, feel free to contact Bitfinex Support for further assistance.