Why didn't my limit order fill? The price touched it.
You set a limit buy for ETH at 2,200 USDT, close the app, and check again later. The chart shows a wick right down to your level. Your order is still sitting there, and you start to wonder if the exchange skipped you.
The thing to look at first isn't the chart. It's the queue behind your price.
The price on the chart is the last traded price. Touching your limit means one trade happened there, not that every order at that level got filled. Orders at the same price usually fill in the order they arrived, so if a crowd was waiting at 2,200 and only a little was offered, the earlier ones got it. Binance's help center puts it plainly: even when the market reaches your limit, the order won't fill if there's nothing on the other side at that price.
That's the trade-off between a limit order and a market order. A market order is certain to fill, but its price isn't fixed. A limit order has a fixed price, but it isn't certain to fill. Sometimes only part of it fills, and the rest stays open on the book.
If you don't need the whole amount at that exact price, set your limit a little less greedily. And check your open orders tab now and then, so an order you forgot about doesn't fill after you've stopped wanting it.
Do you usually set your limit right at the level, or a step inside it?
$ETH #LimitOrder #MarketOrder #CryptoTrading
You set a limit buy for ETH at 2,200 USDT, close the app, and check again later. The chart shows a wick right down to your level. Your order is still sitting there, and you start to wonder if the exchange skipped you.
The thing to look at first isn't the chart. It's the queue behind your price.
The price on the chart is the last traded price. Touching your limit means one trade happened there, not that every order at that level got filled. Orders at the same price usually fill in the order they arrived, so if a crowd was waiting at 2,200 and only a little was offered, the earlier ones got it. Binance's help center puts it plainly: even when the market reaches your limit, the order won't fill if there's nothing on the other side at that price.
That's the trade-off between a limit order and a market order. A market order is certain to fill, but its price isn't fixed. A limit order has a fixed price, but it isn't certain to fill. Sometimes only part of it fills, and the rest stays open on the book.
If you don't need the whole amount at that exact price, set your limit a little less greedily. And check your open orders tab now and then, so an order you forgot about doesn't fill after you've stopped wanting it.
Do you usually set your limit right at the level, or a step inside it?
$ETH #LimitOrder #MarketOrder #CryptoTrading