When the order to buy or sell a cryptocurrency is transmitted to the broker there is a delay in clearing the transaction through the Order Book based on the Asking and Bidding Prices, the quantity of coins/tokens in the transaction, and the Cumulative Quantity of the cryptocurrency in the marketplace. The trader decides the Order Type for a Buy or Sell request to be issued to the broker.
- Market – Filled immediately at the current available market price.
- Limit – Filled at/better than specified price until the quantity is satisfied.
- Limit: Immediate-Or-Cancel (IOC) – Must satisfy price using any available quantities to fill the order.
- Limit: Fill-Or-Kill (FOK) – Must satisfy price and quantity to fill the order.
- Limit: Maker-Or-Cancel (MOC) – Relies on the Order Book to fill the requested price and quantity.
- Stop-Limit – When the last trade price drops below the specified price the order is changed to a Limit Order.
How long your request takes to complete depends on your price and the quantity of cryptocurrency in the transaction.
The longer it takes to clear through the marketplace the greater the chance of not getting your price.
The algorithms incorporated into the Cryptocurrency Reactive Trading Desk trade one (1) coin in a Limit Order transaction to reduce the market clearance time and avoid the need for manual intervention when the order is not satisfied and hangs at the broker exchange.
The market is always fickle because it is subject to the continuous buffeting by trade winds generated by news and events.
This is one of the reasons this Cryptocurrency Trading Application is a turnkey process. Your complete control of the process.
