Topic: How to choose limit price (rate) for sell orders at crypto exchanges (Bittrex) (Read 149 times)
May 04, 2018, 03:06:43 PM
A limit order will execute when that price is reached. You could set it so that it would set a limit order at whatever the current market price is, and you would have a strong chance of it executing almost immediately. But yes, if there are orders in front of your limit order, generally they will execute first, though that is not always the case.
May 04, 2018, 11:15:12 AM
I am not an expert on trading but I found this information over at a site dedicated to crypto/crypto trading.
How to set a limit order on Bittrex:
The main order type you’ll use on Bittrex is a limit order, to set a limit order use the buy form to set a “bid” price below the current “ask” price or use the sell form to set an “ask” price above the current “bid” price.
The bid price will be filled when there is a seller, the ask price will be filled when there is a buyer.
NOTE: If you set the “bid” above the current lowest ask, or the “ask” above the current lowest bid… then it’ll essentially result in a market order (use conditionals to set orders like this that you don’t want to fill right away).
TIP: Make sure to learn about the studies and the order book so you can better understand what orders are likely to fill. If you want to buy the market price, use a limit and follow the directions above.
Link to original article.
I hope this helps, Good luck with your App.
How to set a limit order on Bittrex:
The main order type you’ll use on Bittrex is a limit order, to set a limit order use the buy form to set a “bid” price below the current “ask” price or use the sell form to set an “ask” price above the current “bid” price.
The bid price will be filled when there is a seller, the ask price will be filled when there is a buyer.
NOTE: If you set the “bid” above the current lowest ask, or the “ask” above the current lowest bid… then it’ll essentially result in a market order (use conditionals to set orders like this that you don’t want to fill right away).
TIP: Make sure to learn about the studies and the order book so you can better understand what orders are likely to fill. If you want to buy the market price, use a limit and follow the directions above.
Link to original article.
I hope this helps, Good luck with your App.
May 04, 2018, 04:38:04 AM
Hi guys!
I'm absolutely new at crypto exchanges and need to develop an app that will transfer all BCC (bitcoin cash) to BTC using bittrex exchange api by scheduler.
Unfortunately, bittrex doesn't provide api for Market orders, there is api for Limit Orders only.
https://support.bittrex.com/hc/en-us/articles/115003723911#apireference
So, I have a problem understanding the Rate parameter. For example, there are bids for BUY:
if I choose rate 0.15380000, will orders for prices above execute also first of all? Till BID prices will be >= my rate price.
If yes, than will first 5 orders be made by BID prices or by my RATE price?
Here is the screen:
https://cloud.mail.ru/public/FZ2h/XG7nZY4T9
I'm absolutely new at crypto exchanges and need to develop an app that will transfer all BCC (bitcoin cash) to BTC using bittrex exchange api by scheduler.
Unfortunately, bittrex doesn't provide api for Market orders, there is api for Limit Orders only.
https://support.bittrex.com/hc/en-us/articles/115003723911#apireference
Quote
Used to place an sell order in a specific market. Use selllimit to place limit orders. Make sure you have the proper permissions set on your API keys for this call to work.
Parameters
Parameter Required Description
market required a string literal for the market (ex: BTC-LTC)
quantity required the amount to purchase
rate required the rate at which to place the order
Parameters
Parameter Required Description
market required a string literal for the market (ex: BTC-LTC)
quantity required the amount to purchase
rate required the rate at which to place the order
So, I have a problem understanding the Rate parameter. For example, there are bids for BUY:
Quote
SUM TOTAL SIZE (BCC) BID (BTC)
0.0710 0.0710 0.459 0.15466979 SELL
0.1390 0.0680 0.440 0.15466978 SELL
0.2165 0.0776 0.504 0.15387001 SELL
0.4523 0.2358 1.533 0.15384000 SELL
1.1482 0.6959 4.524 0.15381502 SELL
1.2261 0.0779 0.506 0.15380000 SELL
1.2386 0.0125 0.081 0.15364005 SELL
1.3154 0.0768 0.500 0.15364003 SELL
1.4959 0.1805 1.175 0.15364001 SELL
1.5650 0.0691 0.450 0.15359017 SELL
0.0710 0.0710 0.459 0.15466979 SELL
0.1390 0.0680 0.440 0.15466978 SELL
0.2165 0.0776 0.504 0.15387001 SELL
0.4523 0.2358 1.533 0.15384000 SELL
1.1482 0.6959 4.524 0.15381502 SELL
1.2261 0.0779 0.506 0.15380000 SELL
1.2386 0.0125 0.081 0.15364005 SELL
1.3154 0.0768 0.500 0.15364003 SELL
1.4959 0.1805 1.175 0.15364001 SELL
1.5650 0.0691 0.450 0.15359017 SELL
if I choose rate 0.15380000, will orders for prices above execute also first of all? Till BID prices will be >= my rate price.
If yes, than will first 5 orders be made by BID prices or by my RATE price?
Here is the screen:
https://cloud.mail.ru/public/FZ2h/XG7nZY4T9
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