Bittrex Exchange Guide: How To Place Strategic Buy & Sell Orders In The Order Book - YouTube

Hello again my friend, Caleb Wright here from Bitcoin Lifestyles Club and in this next video

of your Bittrex cryptocurrency Exchange Beginner's Guide, I'm going to show you how to place

strategic buy and sell orders on the Bittrex cryptocurrency exchange.

You may wonder exactly what I mean when I say, strategic buy and sell orders.

In the last video, I showed you how to buy or sell the market of any cryptocurrency coin

on Bittrex at current market prices.

Sometimes there are special situations that require this.

But usually the best way to enter a trade is to use your own technical analysis to determine

a low point that the currency may drop to before rising again and then place your bid

somewhere within that pre-determined price range in anticipation of the profitable price

movement.

And of course you can apply the same approach to selling afterwards.

Using technical analysis you can determine a price range where a currency may rise to,

and place your sell order within that area in advance of it actually reaching that price.

This is how you can be more strategic about your trading, which will result in higher

profits.

Of course it takes more time and patience, but if you stick with a sounds gameplan and

implement, it will be worth it when you pull in the profits.

I am currently on the exchange page for Stellar Lumens, also known as XLM on the Bittrex cryptocurrency

exchange.

From here we'll just scroll down a little bit to the 'Buy Lumens' order form.

Notice that I have about 0.493 BTC in my available bitcoin balance, that we can use to place

a buy order.

When you are ready to place your buy order, you will have already done your technical

analysis to determine generally where you want to place your bid order.

So next you will just want to review the price range in the order books on the left here,

and then place your bid order accordingly.

Notice that you can use the navigational buttons at the bottom of the order book to dig deeper

into the orders to find the perfect price area for your buy order.

Now just for example, I will place my bid at 2901 satoshis, right above these more significant

orders, potentially a level of support in the order book here, on the buy side.

That we will just pretend was within the ideal price range that I determined through my technical

analysis.

All we have to do is 'left click' the satoshi price here, 2900, and it will automatically

populate the price in the 'buy lumens' order form in the middle of the screen for you,

right here you see 'Bid Price' 2900.

Now I'll just left click into it, and we'll just change it to 2901 satoshis.

Then since I'm intending to use the full amount of bitcoin on this buy order, I can just click

the 'max buy' button here at the bottom of the order form, and it will apply 100% of

my BTC balance to the order.

You see now that I've clicked it, under the 'total' field here for bitcoin, you can see

it shows .04932249 has been applied to the order.

Which is the same amount that I have under my available balance of bitcoin.

Now that everything is set, we can simply click the 'buy lumens' button here in order

to place the order on the buy side of the order book.

When we click it, it will bring up this pop up window, with the information of our order

that we can verify, and once we've done that we can click 'confirm' to go ahead and finish

placing our buy order in the bid side of the order book.

As we can see right here it says, XLM buy placed, on the lower right hand side of the

screen.

And notice now that once we've successfully placed the order, that a little grey marker

shows up on the same row of the satoshi price that we placed our order at, right here at

2901 satoshis.

There's the little grey marker.

You can also scroll down a little bit to see all of the buy and sell orders you currently

have open on Bittrex, which will now include the order we just placed.

Just click the little plus button next to where it says 'My Open Orders' to expand that

area and it will show the information for your sell order that we just placed.

All that you have to do is click the little red 'x' to remove your bid or sell order from

the order book.

Which is something you can do anytime prior to your order being filled by price movement.

See I just successfully cancelled the order, and it's no longer showing under 'My Open

Orders'.

Selling crypto on your Bittrex account is just as easy.

And uses the same principles, just in the other direction.

We anticipate the price range that the currency will rise to after we have made our entry,

and place our sell orders accordingly within that target price range, in order to close

your trade in a nice profit.

Now I do already have some XLM in my XLM wallet here on Bittrex, so we can go ahead and setup

a sell order.

But before we do that, we're just going to open up the selling form, by clicking the

greyed out 'sell' button here in the middle of the screen.

Once we've clicked it, it highlights and becomes red, and this form now correlates with selling.

Now just like we did for buying, we can use the order book on the right here to figure

out where to place the sell order.

Notice that you can use the navigational buttons at the bottom to dig deeper into the order

books to find the perfect price area to place your sell order.

Now I'm just going to arbitrarily choose what might be a level of resistance in this order

book, and again we'll just pretend this was an area that was ideal through my technical

analysis, for us to make the best profit.

And so I'm eyeing this big sell order here at 3160 satoshis.

So I'm just going to left click that, so that it populates the 'ask price' field in the

selling form in the middle of the page.

And as you see, it says 3160 satoshis.

Now I'd like to place my sell order right in front of that order, so I'm actually going

to sell it for a little bit cheaper than his order by one satoshi.

So I'm going to change this to 3159 satoshis.

Then I'm going to click into the quantity field here, and I'm going to type in 100 XLM.

So I'm going to setup the sell order to sell 100 XLM when the price reaches 3159 satoshis.

Then we can simply click the red 'sell lumens' button at the bottom of the 'sell order' form

in order to place our sell order in the order book.

It will bring up the information of our order in a pop up window, we can verify it and then

click confirm in order to finish placing our order.

And there it is we have the message in the bottom of the screen, 'XLM sell placed'.

And that's how you know it's been done successfully.

And notice that just like when we placed the buy order.

A little grey marker will go next to the satoshi price in the sell side of the order book this

time.

As you can see right here, as it fluctuates up and down a little bit, and that your order

will also appear in your 'My Open Orders' area when you scroll down the page a little

bit.

And I'm just going to cancel my order real quick, since I have no actual intention of

selling XLM at this price right now.

So I'll click the little red 'x' on the right side of my open order here.

And there it is, the XLM sell has been cancelled and the information disappeared from the 'My

Open Orders' area.

So in a nutshell, that is how you place strategic buy and sell orders in advance of price movements

on the Bittrex cryptocurrency exchange.

It's really pretty easy.

I hope you enjoyed this video training showing you how to place a strategic buy or sell

order into the Bittrex order book in advance of beneficial price movements so that you can maximise your trading profits

this video training to be helpful, I would really appreciate your support, all you have

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in learning how to get started with trading cryptocurrency.

Creating buy and sell orders is the easy part of it all.

The challenging part for most people is doing good technical analysis to figure out the

most profitable and safest times to buy and sell for profit.

And where the most profitable areas to place your bid and sell orders in advance will be

in order to maximise your profits.

If you are ready to dive head first into the world of cryptocurrency trading, investing

and mining, and get the best results possible.

You should take a serious look at my cryptocurrency trading, investing and mining mastery courses

and my 24-7 running mastermind chat group on Slack.

You can get more info about all of this at m website www.BitcoinLifestyles.club.

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Feel free to contact me if you have any questions.

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I will also put a link to this in the video description below.

I hope you enjoyed this FREE Bittrex Exchange Beginner's Guide that I put together just

for you.

Because I wanted to make sure that you could figure this stuff out well enough so that

you could at least tread water.

Keep at it, invest in your financial education and you will be swimming with the whales and

having financial success before long.

Caleb Wright here from Bitcoin Lifestyles Club, and I wish you nothing but success with

the crypto markets, make sure you subscribe to my channel here on YouTube so you don't

miss a beat.

Stay prosperous and I'll catch you soon on the next training video.