How To Set Limit Order On Kucoin

If you’re new to trading on KuCoin and want to know how to set a limit order, you’re in the right place! In this article, we’ll guide you through the process of setting a limit order on KuCoin, step by step. So, let’s get started!

What is a Limit Order?

A limit order is a type of order that allows you to trade at a specified price. When you place a limit buy order, the final transaction price will be equal to or less than the specified price. On the other hand, when you place a limit sell order, the final transaction price will be equal to or greater than the specified price.

Placing a Limit Order

Once you’ve successfully submitted a limit order, any unfilled orders will enter the order book. You can view your order information in the active order list. These orders not only provide market liquidity but also earn a maker’s fee upon transaction.

It’s worth noting that if you place a limit buy order at or above the current ask price, or a limit sell order at or below the current bid price, the order may be filled immediately. In these cases, the orders won’t go into the order book, and you’ll likely pay a transaction fee as the order taker.

Market Orders

Alternatively, you can choose to execute a market order. A market order is executed at the current market’s best available price. Traders often use market orders for quick position opening or closing, especially in urgent scenarios. The system automatically controls the worst transaction price within a certain range and cancels any remaining unfilled part of the order if the transaction price exceeds the range.

Market orders provide the advantage of quick execution. However, it’s important to pay attention to market depth and price fluctuations to avoid significant deviations from the anticipated price.

Setting Stop Orders

Stop orders can serve as either stop-loss or take-profit orders. These orders will be triggered when the market price reaches a specified trigger price, entering the market as a limit order or market order.

In KuCoin futures, you can set stop orders using the latest price, mark price, or index price as the trigger type. The order will be activated when the trigger type’s price reaches the specified trigger price. It’s important to note that while stop orders don’t freeze the required margin at the time of placement, they will freeze the necessary funds according to the order and position once the order is triggered.

Advanced Order Types

KuCoin also offers advanced order types to enhance your trading experience. Let’s take a quick look at a few of them:

Reduce Only

By selecting a Reduce-Only order, you ensure that the executed trade only decreases your futures position. This order doesn’t require any margin to be frozen. If the order leads to an increase in position, the system will automatically reduce the order size or cancel it.

Hidden Order

When making large transactions, investors often split the order into several small limit orders to hide the real amount. The range of hidden order size should be no less than 1/20 of the total order size and no more than the total order quantity. Iceberg or hidden orders are executed and subject to taker fees.

Post Only

A Post Only order won’t be matched immediately in the market. Instead, it enters the order book in order to be charged maker fees if it’s filled. However, if a matching counterparty order appears in the order book, the system will automatically cancel the order.

Time in Force

Limit orders on KuCoin can be set with different time-in-force strategies. The two most commonly used strategies are GTC (Good Till Cancel) and IOC (Immediate Or Cancel). By default, GTC is selected.

  • GTC (Good Till Cancel): The order remains valid until fully filled or manually canceled.
  • IOC (Immediate Or Cancel): The order must be filled immediately at the limit price or better. If the order cannot be fully filled immediately, the unfilled portion will be canceled.

Conclusion

Now that you know how to set a limit order on KuCoin, you can take full advantage of the trading features and make informed investment decisions. Remember, whether you choose a limit order or a market order, it’s essential to consider your trading strategy, market conditions, and risk tolerance.

So, what are you waiting for? Start your futures trading journey on KuCoin today and take control of your financial future!

KuCoin Futures

Thank you for reading this article. For more detailed information, you can refer to the KuCoin Futures Guide (Website Version Tutorial) or the App Version Tutorial.

Please note that users from restricted countries and regions cannot open futures trading accounts.

Happy trading!
KuCoin Futures Team