Before following this guide, make sure you select the SPOT market!
From Main Menu, go to your Trading Dashboard. Or, use this link: https://trade.quoinex.com
To place orders, locate the Order Entry panel (top left of dashboard by default).
Fill out all required fields.
- Price: the price at which you want the order to be executed. Placing a limit order means you want to buy or sell at a better price than market ask or market bid. Based on the screenshot, if you want to buy, price has to be lower than 3,709.03, and if you want to sell, price has to be higher than 3,705.30.
- Quantity: how much you want to buy or sell.
- Disc. Qty: "disclosed quantity," or the quantity you are willing to let other traders know. For example you want to buy 3 BTC with disclosed quantity of 1 BTC. System will first put an order of 1 BTC on the orderbook, and once that order is filled, renew it with another 1 BTC. This goes on until the full order is filled or cancelled.
Cost, average price, and fee are all collapsible in order to show more details.
You can check the price on top of the dashboard, or in the Orderbook on the right. The lowest price in red is the best market ask (how much you will spend to buy 1 BTC, or how much people are asking for 1 BTC). The highest price in green is the best market bid (how much you can get from selling 1 BTC, or how much people are bidding for 1 BTC). Market orders are executed with these prices. The difference between them ($3.67 in the screenshot) is called spread. The bigger the spread, the more volatile the market.
Average price here is the best price right before the order is submitted. Actual price when your order is matched can be a different one - see Slippage. Fee in this case is trading fee and zero, but if you are trading a non-base currency pair, fee is 0.25% of trading amount - see Fees.
Click Buy or Sell to place the order. System will ask you to confirm again. Check everything over once again, then click Submit Order to finalize.
The new order will be displayed on Orders panel (bottom right of dashboard by default).
You can cancel a limit order as long as it is not fully filled. Also, it can be executed many times since one execution is not guaranteed to cover the whole order. Executions will happen as the order is matched.
Note that in all orders, slippage can happen.