Dear MEXC Users: In our last issue, we discussed the three essentials for a sideways market: saving on fees with 0% rates, earning spreads with Grid Earnings, and averaging costs with DCA. However,Dear MEXC Users: In our last issue, we discussed the three essentials for a sideways market: saving on fees with 0% rates, earning spreads with Grid Earnings, and averaging costs with DCA. However,
Learn/Market Insights/Others/[Comprehensive Guide to Crypto Trading] Spot Tools: Five Order Types, Don’t Just “Buy at Market Price”
[Comprehensive Guide to Crypto Trading] Spot Tools: Five Order Types, Don’t Just “Buy at Market Price”
Dear MEXC Users:
In our last issue, we discussed the three essentials for a sideways market: saving on fees with 0% rates, earning spreads with Grid Earnings, and averaging costs with DCA. However, one question was skipped: these strategies are ultimately executed through "placing orders". Are you using limit orders or market orders? Have you set take-profit and stop-loss orders? Do you use trailing stops to let your profits run?
Even when buying just one BTC, different order methods can lead to vastly different results. MEXC Spot offers five order types: Limit, Market, Take-Profit/Stop-Loss, OCO, and Trailing Stop. In today's lesson, we'll clarify them all at once.
New Today: A Complete Guide to Spot Order Tools
- Limit vs. Market: The Trade-off Between Speed and Savings: Limit orders let you place orders at your target price, giving you control over the execution price but potentially requiring a long wait; market orders execute immediately, but during high volatility, the actual execution price may differ from what you see. Understanding when to use each is the first step to avoiding "buying at the top and getting stuck."
- Take-Profit/Stop-Loss: Set Up "Automatic Selling" in Advance: No need to watch the market 24/7. Once you set a trigger price, the system will automatically place an order for you when the price is reached. Limit take-profit/stop-loss orders control the execution price, while market take-profit/stop-loss orders ensure a quick exit. The key isn't whether to use them, but where to set the trigger price.
- Trailing Stop: Let Your Profits Run: Set a trailing amount (e.g., 5%). As the price moves in your favor, the system continues to track it. If the price retraces by 5%, it automatically sells to lock in profits. This is suitable for trending markets and for those who don't want to constantly monitor the market.
- OCO: One Order Covers Both Sides: Combines take-profit and stop-loss into a single order. When one side is triggered, the other is automatically canceled. Ideal for scenarios where you want to "set and forget" your orders.
Next Issue Preview: Spot Trading Supplement | How to Read the Order Book and Choose Trading Pairs
The five order types solve "how to buy," but two questions remain unanswered: Who is on the other side when you place an order? Why do some trading pairs have low slippage while others jump in price with a single click? In the next issue, we will cover the final foundation of spot trading: reading the order book (best bid, best ask, spread, depth) and selecting trading pairs (liquidity, volume, and the essential differences between major pairs and altcoin pairs). We will also thoroughly explain the activation price and tracking range of trailing orders. After concluding the spot trading series, we will move on to futures.
Haven't read the first two issues? Click here to catch up:
MEXC Learn
This article is provided by MEXC for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets involve significant risk. Please conduct independent research or consult a qualified professional before making any investment decisions. The views expressed do not necessarily represent those of MEXC or its affiliates.
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