Trade Bitcoin Trading

Buy Entry Limit Bitcoin Order and Sell Entry Limit Bitcoin Order - How to Set Limit Pending Orders

Limit Order Definition - An entry limit is an order to buy/sell Bitcoin at certain price which is a pullback area where price is predicted to retrace to before it resumes original trend. BTCUSD Crypto traders use limit orders to buy or sell at a better price.

An entry order of this type can be used to open buy below the market level (during a retracement in an up-ward trend) or to sell above the market level (during a pullback in a downward trend).

Buy Limit - When buying, your entry buy limit is executed when market falls to your set price. (Price retraces down)Sell Limit BTCUSD Crypto Currency Order - When selling, your entry sell limit is executed when market rises to your set price. (Price retraces up)

Entry limit orders are set by Bitcoin traders when they expect the price to bounce back after reaching to the retracement level where they have set their limit orders.

Buy Limit Order to buy at a level below the prevailing price

Sell Limit Bitcoin Trading OrderOrder to sell at a level above the prevailing price

Buy Limit Example

In the example below a buy limit order was placed to buy Bitcoin at a price that was lower than the current market price - The buy limit order is set at point B.

Buy Entry Limit Bitcoin Order and Sell Entry Limit Bitcoin Order - How Do I Set Entry Limit Bitcoin Pending Orders?

Buy Limit Order Placed Below the Current Bitcoin Price

The price then retraced & went down to hit the buy entry limit order. When the buy limit order was executed it changed into a buy trade - afterwards price continued to move upward in direction of the original market trend as shown below.

Buy Limit Bitcoin Order and Sell Limit Bitcoin Order - How to Set Entry Limit Bitcoin Pending Orders

Buy Limit Order Executed - Order Now Changes to a Buy Trade

After the buy limit order was executed it then changed into a buy trade - the original upward trend then resumed and price continued heading upwards. A trader using this type of order buys at better price after a retracement. A trader should also know where is the best place to set these entry buy limit orders so that they do not set this order too far that the retracement does not get to their set order and they miss out on the trade and they should also not set it very close, Bitcoin traders should use Fib Retracement zones to know where the best place is to set their entry buy limit orders.

Sell Limit Example

In the example below a sell limit order was put to sell at a price that was higher than the current market price - The sell limit order is set at point B.

Buy Entry Limit Bitcoin Orders and Sell Entry Limit Bitcoin Orders

Sell Limit Order Placed Above the Current Bitcoin Price

The price then rallied and went up to hit the sell entry limit order. When the sell limit order was executed it changed into a sell trade as shown below - afterwards price continued to move downward in direction of the original market trend as shown below.

Buy Limit Bitcoin Orders and Sell Limit Bitcoin Order - How to Set Limit Bitcoin Pending Orders

Sell Limit Order Executed - Order Now Changes to a Sell Trade

After the sell limit order was executed it then changed into a sell trade - the original downward trend then resumed and price continued heading downwards. A trader using this type of sell limit order sells at better price after a retracement. A trader should also know where the best place is to set these entry sell limit orders so that they do not set this order to far such that the retracement does not get to their set order and they miss out on the trade and they should also not set it very close, traders should use Fib Retracement zones to know where the best place is to set their entry sell limit orders.

Setting Buy & Sell Limit Orders on MT5

To set up these BTCUSD Crypto trading orders in the MetaTrader 5 platform, RightClick on BTCUSD Crypto chart >>> Select "Trading" >>> Then Choose 'New' >>> Then on the popup window that appears (illustrated below), under the label 'Type' choose option of 'pending' instead of "market execution" >>> Under the pending order options choose pending order type: for This trade select either "Buy Limit" or "Sell Limit" depending on whether you as a trader want to place a pending buy/sell order.

Bitcoin Buy Entry Limit Order and Bitcoin Sell Entry Limit Order - How to Set Bitcoin Trading Entry Limit Orders

Putting Limit Orders in MT5 - Buy Limit and Sell Limit

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