Bitcoin Forum

Hi,

When daytrading is the use of the order book important?
I hear many talk about stop-sell orders.

I need some confirmation if the idea that I have about buy and sell orders is okay.

For Example:
My coins: 30 iost
Actual price: 0,15

- If I place a sell order to sell 20 iost for the price of 0,16 and the actual price goes to 0,14, I won't lose money? (except fee of course)

- If I place a buy order to buy 20 iost for the price of 0,14 and the price goes to 0,16 I won't lose money?

If this is correct, .. trading with buy and sell orders is actually very safe. In other words, when you trade with buy sell orders wisely, you can have more trades in total compared to when you don't use buy and sell orders.

Am I right?

Why would you? The coins won't be sold until you can do it for 0,16 each. The sell order will stay there until the price hits that value.

The order won't be filled until the price hits 0,14. If the coin pumps, reaches 0,32 and never goes to 0,14, your order will remain open.

That got me a little confused as well. There won't even be any fees paid there since the orders weren't hit. Unless the orders prior to yours get filled, there's not going to be any movement so you definitely won't lose money with that scenario

Order Placed been successfully implemented when a command that would match it. Order Placed: Placed Sell order 20 iost @0,14x20, it will exist until the purchase order to match it. unless your order be processed, otherwise it will not lose fee
and of course trading with the order will help you buy and sell at the price you want

I have only traded market price real time so that's a too big gamble for me. I want to set values of number that I wan't to buy at forehand by reading charts on whaling coins. Is it more recommendable to use order book or a random live market deal when daytrading?