BINANCE TYPES OF ORDERS

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If the trader places the limit order in the order book, this type of order can be executed instantly (depending on the price action) or it will be placed in the order's book queue.
Limit orders are completely anonymous, but the price and its amount are visible to everyone. So when you place a limit order, the trade will only be executed if the market price reaches your limit price.The limit placed order will be triggered only in that case.

Traders can remove limit order until it will be filled.

Advantages: Order will be filled by the price you've placed.

Disadvantages: Filling of the order isn't guaranteed. "Limit order" – is the passive order, if the market has better offers on the market, the order may be partially fulfilled or not fulfilled at all.

95% of orders which are placed by professional traders are the limit orders. Most of the scalpers trade just limit orders, other orders they may not use at all. We strongly recommend to the new traders to use "stop-orders" (stop loss) for the minimizing losses.

The Market order - is the simplest order but also one of the most unsafe for the newcomers.

If the order book contains limit orders of the participants, if the trading instrument has a huge 24h volume, then your order will be executed instantly with minimal slippage.

The Market order ensures the trade, however a trader won't be able to be executed at the current price of it. The market order will be completed at the best price, but such price can be changed for a split second.

Advantages: The market order is executed securely (If the order book contains trading orders).

Disadvantages: The main minus of the market order is the process of slippage.

The slippage most frequently happens, when a trader works with a big amount of an instrument. In this case the market order will be completed in different prices executing the best prices in orders book. The slippage the lowest overall happens on the volatile market, when orders book's been set up the empty trade spots by the major traders.

Hot Keys for the Binance market orders:

• Close Position at market price;
• Buy/Sell at Market price;
• Reverse the position.

Notes: CScalp creates Binance Market order as a limit order artificially. When the trader places market order, CScalp creates limit order on the bottom of the red zone or on the top of the green zone simultaneously (depending on your need, also you can set it up). It's invisible to the trader.

CScalp orders on Binance can be divided into two types of categories: closing position or not-related to the opened position.

Closing positions of stop orders – basically it's called stop-loss and take-profit. There is no trading amount setting in the related order because in the beginning of the placing order the amount will be set automatically. That works for the trader, because it doesn't take time to set up the amount. For example, the position for 17 lots is opened, meaning that stop-loss or take-profit will close the entire position.

Not-related stop-orders (Limit stop-orders).
There are 4 types of limit stop-orders on Binance exchange: buy-stop, sell-stop, buy-limit and sell-limit. These orders are placed in the CScalp by the trader, and they are not related to the open position.

Other traders won't be able to see your stop orders, because they are not visible in the orders book until it will be fulfilled.

Let's figure it out, these types of orders.

Stop-loss can be placed only under the condition of the currently opened position. Stop-loss can be placed on the market exchange servers as well as in the CScalp terminal. The position of the order depends on the settings. Stop-loss is placed in the CScalp terminal by default.

If stop-loss is placed on the market exchange servers, operation will be closed by market order when the order is called. The position will certainly be closed.
If stop-loss is placed in the CScalp terminal, the terminal will close your position by the limit order. Limit order will be sent on the edge of the orders book, thereafter your position will be closed immediately.

To set the Stop-Loss, hover the cursor over the order book and hold down the hotkey C (default). The message "Stop-Loss/Take-Profit" will be shown at the bottom of the order book (you should enable the SL/TP setup mode). Do the left click on the price at which the closing order will be triggered.

Not related to the position Binance stop-orders (limit stop-orders) divided into 4 types:

• buy-stop buying order placed in the seller's zone (making a buy if the price is going up in specified level);
• sell-stop - selling order placed in the buyer's zone (making a sell if the price is falling in specified level);
• buy-limit - buying order placed in the buyer's zone (making a buy if the price is falling in specified level);
• sell-limit - selling order placed in the seller's zone (making a sell if the price is going up in specified level).

Limit stop-orders are outlined on the market exchange servers and can be fulfilled if occurs under the condition of the specified price. If the orders on the orders book reach the limit stop-order level, but there are not any trade, therefore the limit stop-orders will not execute.

In order to place a limit stop-order, hover the mouse over the order book and hold down the hotkey V (default). The message "Stop order" will be shown at the bottom of the order book (if you turn on the stop order setting mode). Click on the price using the left or right mouse button, at which the deferred order should be triggered.

In the implementation, limit stop-order will be transformed to the limit order. These such of orders are implemented by the price of the limit stop-order, with "the limit and stop orders slipping". Settings of the limit and the stop orders slipping adjusted by default (by 0). This means limit stop-order will be transformed to the limit order and will be implemented as the market order.

Limit and stop orders slipping referred to the step price. That means, if the step price is 1 cent, a limit order will be placed by the "deferred" price plus and 1 cent. Scaling of orders book doesn't affect this parameter.