Are there any specific strategies or tips for using post only orders effectively in cryptocurrency trading?

3 answers

• Nov 28, 2021 · 3 years ago
  One strategy for effectively using post only orders in cryptocurrency trading is to set a competitive price that is slightly below the current market price. This can increase the chances of your order being filled quickly. Additionally, it's important to monitor the market closely and adjust your order price accordingly to stay competitive. Another tip is to use limit orders instead of market orders when placing post only orders. This allows you to specify the exact price at which you want your order to be executed, giving you more control over your trades. Finally, it's recommended to start with small order sizes when using post only orders to minimize potential losses and gain experience with the strategy.
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• Nov 28, 2021 · 3 years ago
  When it comes to using post only orders effectively in cryptocurrency trading, timing is key. It's important to place your order at the right time, when the market is relatively stable and there is enough liquidity. This increases the chances of your order being filled at your desired price. Additionally, it's a good practice to set realistic expectations and not to expect immediate execution of your order. Post only orders may take longer to fill compared to market orders, but they can offer better prices and reduce the risk of slippage. Finally, it's always a good idea to stay updated with the latest market news and trends to make informed decisions when using post only orders.
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• Nov 28, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using post only orders as a way to reduce trading fees and improve order execution. By placing post only orders, traders can avoid paying taker fees and only incur maker fees, which are typically lower. This can result in significant cost savings, especially for high-frequency traders. Additionally, post only orders can help improve order execution by reducing the risk of orders being partially filled or filled at unfavorable prices. However, it's important to note that post only orders may not be suitable for all trading strategies and market conditions. Traders should carefully consider their trading goals and risk tolerance before using post only orders.
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