Learn about XREX exchange's order types and how to set them up for efficient trading.
When trading on XREX, you interact with the market by placing orders. The platform offers three main order types: market orders, limit orders, and conditional orders.
- Unconditional orders: Market orders
- Conditional orders: Limit orders & conditional orders
Market Orders
A market order executes immediately at the best available current market price. It prioritizes speed over price precision, making it ideal for traders who want instant execution.
Key points:
- No price specification required.
- Execution is near-instantaneous but subject to price slippage (the actual fill price may differ slightly from the expected rate).
- Best for high-liquidity markets or when timing is critical.
👉 Master market orders with these pro tips
Limit Orders
A limit order lets you set a specific price to buy or sell a cryptocurrency. The order only executes if the market reaches your predefined price.
How it works:
- Buy limit: Order triggers only if the asset price ≤ your set price.
- Sell limit: Order triggers only if the asset price ≥ your set price.
Example:
If Bitcoin is trading at $50,000, you could set a buy limit at $48,000. The order activates only if BTC drops to $48,000 or below.
Advantage:
- Price control prevents unfavorable executions.
- No fees if the order isn’t filled.
Conditional Orders
Combining a trigger condition with a limit order, conditional orders automate trading when specific criteria are met.
Two components:
- Trigger price: The market price that activates the order.
- Limit price: The price at which the trade executes after activation.
Use cases:
- Stop-limit sell: Protects profits by selling if the price drops to a specified level.
- Stop-limit buy: Buys an asset if its price rises past a threshold.
Example:
Set a trigger at $52,000 and a limit at $51,500 for ETH. If ETH hits $52,000, a sell limit order at $51,500 is placed automatically.
👉 Optimize conditional orders for volatile markets
FAQ
Q1: Which order type has the fastest execution?
A: Market orders execute immediately but may incur slippage.
Q2: Can limit orders expire?
A: On XREX, limit orders remain active until canceled or filled.
Q3: How do I set a stop-loss with conditional orders?
A: Define a trigger price below the current market value and a limit price to sell at.
Q4: Are conditional orders free to use?
A: Yes, but standard trading fees apply upon execution.
Q5: Can I modify an active order?
A: Yes, you can edit or cancel open orders anytime.
Key Takeaways
- Market orders: Speed-focused, ideal for liquid assets.
- Limit orders: Price-controlled, no guaranteed execution.
- Conditional orders: Automated strategy for risk management.
For further questions, contact XREX support. Happy trading!