Limit Buy Orders

Because we are often asked why the bot does not buy for the full manualQuoted amount.

1. Limit Buy Orders in general

When you use the Limit Buy Order you will set a Parameter higher than 1.0. For example you use a buyLimit of 1.4 and a manualQuoted of 100 USDT.

The Bot will calculate the Amount of Coins he can buy based on the current Price. For example the current price is at 10 USDT a coin. The Bot will calculate the maxium buy price which is 14 USDT. The next Step is to calculate how many coins can be bought with 100 USDT when the price is 14 USDT. The Answer is 7.1 Coins.

So the Bot will place a Order for 7.1 Coins at the Exchange. You are lucky and the Order gets filled at a price of 11 USDT per Coin. The total sum for the 7.1 Coins is 78.1 USDT. So, that is the difference (100-78.1=21.9 USDT) which happens when you use a limit order.

When you use a Market Order the complete amount will be filled.

2. The Exchange

The Limit Orders are "IOC" or "FOK" Limit Orders. That means that they need to be filled within a short time. When there are no sellers, who sell there coins to you at your price (based on the buyLimit) the Exchange cant fill your Order! For every limit buy order there have to be sellers who are willing to sell their coins at the maximum price you defined. When there are not enough sellers the Exchange cant fill your full order amount. So the Exchange will fill what is possible.

Last updated