Limit Orders
Last updated
Last updated
We’ve recently just released limit orders on Photon to help our users automate their trading and better time their trades. Let’s dive right into it.
There are 3 types of orders: Buy dip, stop loss and take profit.
Let’s take a look at Buy dip first. For limit orders, there are 3 ways to set your target market cap:
The first is MC drop by % - use this if you have a target market cap in mind that you want to buy in at. You’ll also see that the market cap and the price numbers here are also updating in real-time.
The next option is to state an exact market cap - we’ll trigger the order for you the moment when the market cap is equal to or less than your stated number
And third, you can use our target line. This one is a game-changer for all of the chart lovers out there. You can now execute your buy dip orders by visually selecting the target on the screen, allowing you to execute strategies based on resistance points and other metrics. All you have to do is drag, set and create order.
After you click on Create Order, you’ll see all the detailed info show up under the new Orders tab as an active order.
You’ll see the token, the amount, the condition you set, price/market cap when the order was created, your target price/market cap, when the order was triggered at, status, slippage and priority fee.
2 things to keep in mind: If you have a stop loss AND a take profit order set where your sell amount is 100% of your tokens, the moment that one of your orders successfully executes, the system will automatically cancel the other active order for you so you don’t need to manually delete it yourself.
As with everything on Photon, you can adjust the Priority fee and bribe for all limit orders. Make sure to set a sufficiently high Priority + Bribe amount - these 2 play a key role in being included in the block (if you set it too low, your limit order may not get in as early as possible)
Moving on now to the limit sell orders:
Stop Loss - again, you’ll have the 3 ways of setting the target price and market cap. Next, you’ll need to specify what percentage of your holdings you’d like to sell. Adjust your settings, then you’re done.
Take Profit - select your target price/market cap, sell amount and done.