What is a 'Limit Order'?
A limit order is when a trade is placed at a specific price and a precise number of an asset. This results in an exact trade and prevents any slippage from occurring during that individual trade.
You can place a limit order to buy exactly .01 BTC at the price of 6215.00. In this case, the trade will either be completed or cancelled. So, if the market moves and the price of Bitcoin has increased to 6216.00, no Bitcoin will be purchased.
How are Limit Orders used in Shrimpy?
Limit orders are always used in Shrimpy.