What are the advantages of using a limit order on GDAX for trading digital currencies?

3 answers

• Dec 16, 2021 · 3 years ago
  A limit order on GDAX allows you to set a specific price at which you want to buy or sell a digital currency. This means that you have more control over your trades and can potentially get a better price. For example, if you want to buy Bitcoin at a lower price, you can set a limit order with a lower price than the current market price. When the price reaches your specified limit, the order will be executed. This can be especially useful in volatile markets where prices can change rapidly.
  494247
• Dec 16, 2021 · 3 years ago
  Using a limit order on GDAX can also help you avoid slippage. Slippage occurs when the price at which you execute a trade is different from the expected price. By setting a limit order, you can ensure that your trade is executed at the price you want, without any unexpected surprises. This can be particularly important when trading large amounts of digital currencies, as slippage can have a significant impact on your overall trading performance.
  449150
• Dec 16, 2021 · 3 years ago
  Another advantage of using a limit order on GDAX is that it allows you to take advantage of market trends. For example, if you believe that the price of a digital currency will increase in the future, you can set a limit order to buy at a lower price. This way, if the price does increase, you can potentially make a profit without having to constantly monitor the market. It's a convenient way to automate your trading strategy and take advantage of favorable market conditions.
  479120