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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?

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When you create a limit order to e.g buy 23 MKR with 1 BTC, this is registered in ledger and will stay there until filled or cancelled. To fill the order a matching order will need to exist in the system, so someone actually needs to sell at that price or cheaper.

Stop-limit order will not be registered in ledger until price reaches some point (STOP price). When you create the order you specify both the price MKR needs to reach and price for your order (LIMIT price).

So if you set the stop price to 1/23 (0.04347) and limit price to 1/22 (0.04545), when the price reaches 0.04347 a purchase order to buy at 0.04545 will be registered in ledger.

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  • With your answer I deduce that 1) Limit order executes only when some other party is interested or have filled an order at that price or less (& chances of filling are high if the market also shifts to that level) and 2) Stop-limit order only increases this probability by executing limit order when prices are favorable for any party to grab the deal because market has shifted to that possible level. Can u please specify advantage of stop-limit order over limit order or I have already stated it. – ls_milkyway Jun 5 at 19:43
  • For both type of orders there is no guarantee your order will be filled if price changes very rapidly.Stop-limit order still has better chances to execute, this is main advantage in my opinion. – Taras Chuhay Jun 6 at 22:32
  • For what I feel, stop-limit order is more sort of beneficial (less loss) for those who wish to get profited from daily trading...by investing and strategically moving from 1 coin to other in order to create net profit. – ls_milkyway Jun 7 at 15:04

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