Welcome to this discussion thread. Feel free to ask questions or discuss things related to this section.

1 Like

I believe the following question is incorrect.
Question 1. What is a limit order? - An instruction to buy a security at or above a specified price.

Taken from sec.gov -

â€śA limit order is an order to buy or sell a stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.â€ť

Great, thanks I will correct.

Same with the second question, i just made it right now, u switched the 2 answers.

1 Like

Order book quiz question 3:
How can you use the Orderbook as a trader?

1 To place orders on different price levels
2 To determine the closing price of a security
3 To see the current long term trend
4 To identify buying/selling pressure and determine support/resistance levels

It says coorect answer is the 4 but i would say its 1?

2 Likes

Well, I wouldnâ€™t say 1 is correct. But it might be a tricky question.

The order book is not used to place orders. Itâ€™s a visual representation of current orders, which you can use in your own analysis.

I have added it to the lecture now as well.

I chose the same as @wat3r Although I see the correctness of number 4, my instant reaction was for number 1. Actually Iâ€™d say a combo of both itâ€™s the correct answer IMO. The question â€śHow can you use the Orderbook as a trader?â€ť allows for interpretation, using the orderbook as a source of information and place orders at different levels (1) by identifying buy and sell â€śwallsâ€ť (4).

2 Likes

@filip what crypto exchange has stop loss and take profit orders? I did not see it on Binance, for example.

Thanks!

They might call it different things sometime. But here is a link where binance explains how to do it on their platform: https://www.binance.vision/tutorials/what-is-a-stop-limit-order

Hi

Quiz on lesson order book

In question 2 the answer B and D are equal.

1 Like

Thanks, will adjust. Thank you for letting us know

Is it true that most TA people lose money as traders or not?

It looks like a short position is better used by very experienced traders who have assets to back shorts. Is that what happen you think in middle of March when everything tumbled downward, long position massive selling?

Why do traders make stop order if it is buying at less favorable price? Is it to get filled on a larger order and this is the way to fragment one large order in couple smaller ones?

Hi Philip. What is the best platform to monitor trends of all the ETH coins that Iâ€™ve bought? Iâ€™d like to put in to practice what Iâ€™m learning in this Course

Thanks

Hi Philip. Can you teach me how Stop limit works in Binance exchange please? Iâ€™m struggling to work out BTC/USDT â€¦ Stop amount Limit Amount then an option for BTC amount.

Any one who can help Iâ€™d be happy thanks.

Iâ€™m just trying to understand it better by putting it in to practice.

Rob

Hi Phillip what is a Stop Limit? If i want to set up a position to Short from say 8000 but close my position at the resistance level i set at lets say 9k.

The example in the â€śStop Lossâ€ť video looks like the recent â€śBart Simpsonâ€ť patterns weâ€™ve seen for BTC in 2020!