How to choose limit price (rate) for sell orders at crypto exchanges (Bittrex)

[GreenNun]

Hi guys!

I'm absolutely new at crypto exchanges and need to develop an app that will transfer all BCC (bitcoin cash) to BTC using bittrex exchange api by scheduler.

Unfortunately, bittrex doesn't provide api for Market orders, there is api for Limit Orders only.
https://support.bittrex.com/hc/en-us/articles/115003723911#apireference

Used to place an sell order in a specific market. Use selllimit to place limit orders. Make sure you have the proper permissions set on your API keys for this call to work.

Parameters

Parameter              Required              Description
market              required              a string literal for the market (ex: BTC-LTC)
quantity              required              the amount to purchase
rate                      required              the rate at which to place the order

So, I have a problem understanding the Rate parameter. For example, there are bids for BUY:

SUM           TOTAL   SIZE (BCC)   BID (BTC)   
0.0710   0.0710   0.459   0.15466979   SELL
0.1390   0.0680   0.440   0.15466978   SELL
0.2165   0.0776   0.504   0.15387001   SELL
0.4523   0.2358   1.533   0.15384000   SELL
1.1482   0.6959   4.524   0.15381502   SELL
1.2261   0.0779   0.506   0.15380000   SELL
1.2386   0.0125   0.081   0.15364005   SELL
1.3154   0.0768   0.500   0.15364003   SELL
1.4959   0.1805   1.175   0.15364001   SELL
1.5650   0.0691   0.450   0.15359017   SELL

if I choose  rate 0.15380000, will orders for prices above execute also first of all? Till BID prices will be >= my rate price.

If yes, than will first 5 orders be made by BID prices or by my RATE price?
 
Here is the screen:
https://cloud.mail.ru/public/FZ2h/XG7nZY4T9

[1713415708]

1713415708

[1713415708]

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[Guvn0r]

I am not an expert on trading but I found this information over at a site dedicated to crypto/crypto trading.

How to set a limit order on Bittrex:

The main order type you’ll use on Bittrex is a limit order, to set a limit order use the buy form to set a “bid” price below the current “ask” price or use the sell form to set an “ask” price above the current “bid” price.

The bid price will be filled when there is a seller, the ask price will be filled when there is a buyer.

NOTE: If you set the “bid” above the current lowest ask, or the “ask” above the current lowest bid… then it’ll essentially result in a market order (use conditionals to set orders like this that you don’t want to fill right away).

TIP: Make sure to learn about the studies and the order book so you can better understand what orders are likely to fill. If you want to buy the market price, use a limit and follow the directions above.

Link to original article.

I hope this helps, Good luck with your App.

[icroatt]

A limit order will execute when that price is reached. You could set it so that it would set a limit order at whatever the current market price is, and you would have a strong chance of it executing almost immediately. But yes, if there are orders in front of your limit order, generally they will execute first, though that is not always the case.