HitBTC strives to set high goals for our platform’s development and seek more perspectives for our traders. We move forward by adding new tools and options for flexible and time-effective trading.
Today our team is proud to introduce scaled orders – an advanced trading tool that empowers you to set multiple orders at once, leaving space to focus your attention on decision-making and developing your most profitable trading strategies.
Setting up Scaled orders
To take the most from our innovation, follow us as we explain the possibilities opening up with the Scaled orders tool.
First, you can enter the total Amount of the tokens you would like to be spread on the orders. The sum will be distributed automatically by our algorithm in accordance with the other set conditions.
Depending on your needs, you can choose to either set the Price step for your orders or the Order count. Price step is the preferred difference in price for your orders. As you enter it, the number of orders that shall be created basing on the total amount will be displayed. If the order count is your priority, a rounded price difference for each order will be calculated.
Price min and Price max are the fields for determining the price range for your orders. Set the lowest and the highest bid or ask so we can distribute your orders accordingly.
Customize your orders
Extra parameters and the list of orders to be created are available in the extra settings menu that you can access by clicking the sign in the upper right part of the widget. To see all orders to be created, click the button Show. A list will appear with the information about the chosen pair, the amount of tokens on each order and their prices.
In this menu you can also choose the way to distribute the amount of money for each order according to their price. The options include:
- Flat – the equal amount of tokens is distributed on the orders within the set price range.
- Upscale – the higher the price, the larger amount of tokens will be attributed to the order.
- Downscale – the higher the price, the lower amount will be allocated to the order.
As soon as you’ve set all the parameters and customized your scaled order, click the Buy or Sell button to place the orders.
We kindly ask you to be cautious when using advanced trading tools such as the Scaled orders. It is not always possible to predict how they will be executed, as market conditions may undergo dramatic changes in a short span of time. If you do not feel fully confident with professional-grade options, we suggest to refrain from using them, especially since we have plenty others to offer.
We hope you will find the new tool beneficial for your trading practices and enjoy using it. If you have questions about it, do not hesitate to contact our Support team.