friends and members of leofinance today I came up with an update on how you can open with less risk in order to maximize profit on your trading journey. Read and trade successfully. #oneup #thgaming #luv #leofinance.
As you already know that when you open a trading app you will see different orders you can choose from to enter the market.
- Market order
2)Buy limit
3)Sell limit
4)Buy stop
5)Sell stop
These are the types of orders that we have.
So in this article, the type of order I am going to discuss is Buy limit.
What is Buy limit?
Buy limit is a type of oder that a trader decide to enter when he anticipate that there will be a rise or fall in a currency pair.
For example let's take ETH/BUSDT
the price of ethereum is currently trading at 3080.51 against BUSDT
so when a trader made his/her analysis and found that the price could potentially fall to 3020.21 against the BUSDT. the trader then enter a buy limit at 3020.21 so when the market falls to this price then a buy order will automatically be executed.
In order to manage risk, make sure that you set your stop loss below this price and your take profit above it just in case of market turbulence.
To your trading success.
Thanks.
