A Limit Order is an offer to buy or sell a quantity of tokens at a defined rate. As dex.blue supports cross-price matching, your order is allowed to be matched at the specified - or a more favorable - rate.
Example: You hold 10 ETH and the current price of ETH is 180 DAI. Yet, you think the price is still to low for you to sell as you want to sell your ETH at a rate of 200 DAI. Instead of you waiting for ETH to hit 200 DAI and then placing a Market Order, you can simply place a Limit Order. Hence, you select “Limit Order” and specify the amount you want to sell, 10 ETH, and the rate you want to sell at, 200 DAI. Once the ETH price reaches 200 DAI, you order will automatically be executed.
How to place a Limit Order:
In the Markets section on the left, chose the pair you want to trade (e.g. ETH/DAI).
In the order section below, click the green BUY button if you want to execute a BUY order, and the red SELL button to execute a SELL order. Next, you select “Limit Order” in the order type dropdown.
Now, set the order amount and the ETH rate that you want to trade at.
Use the blue slide-bar to granularly control the amount you are trading. Click the blue Place Order Button below to submit your order and sign the transaction.
When placing a Limit Order you have the option to set it as Post-Only, Hidden, and specify an Expiry.
Post-Only: Post-Only means that your order will always be posted as a maker order.
Hidden: The Hidden option makes your Limit Order invisible for other market participants.
Expiry: Setting an Expiry for your order allows you to specify a time until which your order remains valid in the order book. In case your order has not been matched by the expiry date, your order will be canceled.