I have somewhat understood both limit and stop orders at some exchanges, even executed some similar order types but I am still looking a way to execute an order based on target volume of a coin (say to buy)...for eg.
Okay i will try to make things simple with an existing eg. of binance plus BTC and MKR (both volatile).Suppose,
I wish to buy 23 MKR for 1 BTC (that's 100% of available BTC in my account) & current market order price allows me 1 BTC = 21 MKR hence I create Limit order to buy MKR in binanace (BTC/MKR market) such that I select the BTC price in a way (with 100% available BTC selected) that it shows quantity at 23.
Now, is this limit order executed according to the BTC/MKR price ratio OR specifically when BTC goes up and MKR goes down/stays same or vice-versa?
I guess binance limit-order is only concerned with MKR value going down such that order is executed and 1 BTC results in 23 MKR i.e wait for MKR going down not BTC going up?
I believe that the order should not be concerned which one goes down/up....simply want to see 23 MKR in my binance wallet. Is this sort of autoinvest?
I am not able to understand this specifically as my target is to make 23 MKR??Stop-limit order has no role in this I guess?