-snip-
But that means in times of high volatility you may end up paying a much higher price than the current market value...
No, because you have placed an order based on the limit price. Volatility means the price movement is more massive than usual due to the high volume of orders.
Finally got it ! Took me three attempts but it seems the order went through !
Congrats on your successful trading using the new order method, LOL.
There are actually several more order methods on spot market that can help you execute orders under certain conditions such as OCO and Stop-limit, especially when you are not monitoring the market.