Question About Limit Orders and Trading Platforms
Question About Limit Orders and Trading Platforms
I just put in my first limit order, so we’ll see how that goes. The thing is that they tied up my money until the order goes through or I choose to cancel. My question is if you guys know of a site that doesn’t do that. Like, can I put into 2 limit orders for everything and once one goes through the other is just ignored, maybe
The limit order becomes a market order when the said price is reached, only whether the filling is done or not is not guaranteed, the price is. When you place such an order your money is always going to get locked in the order. That is how it works.
This is not what I can tell, or maybe it differs from one exchange to another, but what I know is that if you first place an order on spot trading, the order will be filled. If you place another order and the first order has or has not been filled, you are still buying the same coin, which means the orders will be filled to buy just the total amount of what the 2, 3 or more orders you placed about the coin. But if you place another order to buy different coin, then the different orders will be placed to buy the different coin.
If you are trading future, which I will not recommend, if it is in isolated margin, you can change it to cross margin, but I am not sure if two positions opened as both buy or sell will not be added together in net addition or will be separate, but you can try it. But I know that a position can be opened in buy direction while the other opened in sell direction and two positions will be opened unlike in isolated margin.