What is the best way to set a limit price for trading cryptocurrencies on Scottrade?

3 answers

• Dec 16, 2021 · 3 years ago
  Setting a limit price for trading cryptocurrencies on Scottrade is essential to ensure you buy or sell at a specific price. To set a limit price, you need to determine the price at which you want to buy or sell the cryptocurrency. If you want to buy, set a limit price below the current market price. If you want to sell, set a limit price above the current market price. This way, your order will only be executed when the market reaches your desired price. Keep in mind that setting a limit price doesn't guarantee execution, as the market may not reach your specified price.
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• Dec 16, 2021 · 3 years ago
  When setting a limit price on Scottrade for trading cryptocurrencies, it's important to consider the current market conditions and the volatility of the cryptocurrency you're trading. If the market is highly volatile, you may want to set a wider range for your limit price to allow for price fluctuations. On the other hand, if the market is relatively stable, you can set a narrower range for your limit price. Additionally, it's a good practice to monitor the market closely and adjust your limit price accordingly to take advantage of any price movements.
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• Dec 16, 2021 · 3 years ago
  Setting a limit price for trading cryptocurrencies on Scottrade can be done easily through the platform's order entry system. Simply select the cryptocurrency you want to trade, choose the limit order type, and enter your desired limit price. Scottrade will then execute your order when the market reaches your specified price. Keep in mind that setting a limit price doesn't guarantee immediate execution, as it depends on market conditions and liquidity. It's also important to note that different cryptocurrencies may have different minimum tick sizes, which can affect the precision of your limit price.
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