Bitcoin Forum

Since there are many traders and investors trading bitcoin or the other crypto currencies here I'm gonna explain the different types of stop-limit.

https://i.imgur.com/HUjqBqn.png
Buy order:
This will be set lower than the currency price, expecting the price to do not break the support line and move back to higher prices.

https://i.imgur.com/VxrhW2u.png
Buy Order:
In this type of the order, we set the order higher than the current price and expecting the price to rise after breaking the resistance area.

https://i.imgur.com/I5XXl3P.png
Sell Order:
This will be set higher than the currency price, expecting the price to do not break the resistance line and move back to lower prices.


https://i.imgur.com/znur4vG.png
Sell Order:
In this this type of the sell order, we set the order lower than the current price and expecting the price to fall after breaking the support area.


* This is a beginner guide in beginners section, for many traders it's not necessary to explain about the different kind of limit orders, but still useful for the newbies who always use the market orders.

The way you presented the information, newbies will never understand. You didn’t even share what does this keywords mean. You should  write all these in more details so that newbies can understand easily.

Your post explains nothing.

Your post is so confusing. It even got me confused for a few minutes. I wonder what it would do to a newbie.

Correct me if am wrong, you cannot set a buy limit order at a price above the market price, or you can't set a sell limit order at a price below the market price or else it will Immediately get filled by the lowest sell (ask) or highest buy (bid) price

Why not simplify things in your post by defining
A buy limit order
A sell Limit order
A buy stop order
A sell stop order

You can use topics like The Basics of Trading a Stock: Know Your Orders (https://www.investopedia.com/investing/basics-trading-stock-know-your-orders/) as reference

If you need a guide for support and resistance, I know that topic Bitcoin Support and Resistance for dummies (https://bitcointalk.org/index.php?topic=5263232.msg54829603#msg54829603)

Support and resistance need to be viewed in a wide period. How wide it is, it depends on the candle you use but you can not apply support and resistance in too short period. Your post does not mention the period to apply support and resistance for buy or sell orders.

One of the Best Weapons in Trading (https://bitcointalk.org/index.php?topic=5173189.msg52086364#msg52086364). Use that weapon and Stop limit order (https://academy.binance.com/en/articles/what-is-a-stop-limit-order)

This graph sample you illustrated is not very explanatory and wouldn't help in all case scenario. I would not advice anyone to trade using this illustration because it might not turn out well.

On those given example about I think the effective one is with the use of the MACD or the Bollinger bands it's hard to say by just putting the market indicators or the trend line its good if we have a guide such as these trading indicators on the example about on the fourth image you can make another buy order if the opposite happens on the trend this makes another indicator if the bullish trend.

I suggest use or put a real-time market graph so it's completely pleasing so most of us can understand thank you.

Forget newbies, it will get even the experienced, confused. For once I was thinking that the post is about patterns and not types of limit order.


OP it's very hard to distinguish the types of limit orders from your post. You will have to extract more info on the topic and present it in a clear way for the newbies to understand.
Do a little research and put in more content in the post with better images and examples of the particular trade order.

Indicators are tools but you have to apply them in correct conditions and views. I'd prefer to zoom out to see general market before I zoom in to see what is happening hours or minutes ago. Combine them together and with some indicators, I will decide to begin my trades or stay outside. I'd prefer to avoid any lost trades. I don't want to be the one who can make some good trades simply because of gambling and luckiness. I'd prefer to control my orders, risks and chances.

I did not use MACD. Bollinger bands is useful but if you rely on it too much, your mind will be restricted.

Images display very short market movements and are not good examples as technical charts. I appreciated OP's good intention to make this guide, certainly.

Limit orders help to exclude greed, fearful, unstable decisions from emotions.

I don't even understand on what you are pointing about there and for sure other newbie will get a hard time to figure out on what is your point on your topic here, I suggest you should lock this thread and edit it with very understandable information to clarify all things here.

I know your intention is good for creating this topic but you need to put a understandable illustration with proper explanation if you want to teach newbies here.

Well, this is not the best trading guide in the world, but hey! it is very simple with 4 clear scenarios and a brief explanation under each of them.

Unlike all the above, I think that it can be helpful for some members who don't know anything about trading, as it gives a first glance to think about. Maybe this generates some curiosity in some people and makes them look for more detailed info somewhere else.

No it won't because a newbie is very confuse. Everything looks like stars in the face of novice in the particular area. The above graph is for people that has at least seen a trade setting or that is trying to understand those buying formula. Trading isn't easy, Op can put the link of that graph we can study the teaching of the order.

Well, maybe in some cases you are right, but not all newbies are the same as not all roses are yellow, so maybe it doesn't work for some but works for some other people. In addition, I guess that the majority of people who come to this forum and read this thread will have seen at least some trading before.

Trade using support and resistance also need the best Time frame, since we need real confirmations for breakout or breakdown the current resistance or support. I think you are good to warn about playing in S/R, but you can give more detail about the strategy. and what additional indicator you need to exit or entry.