The free “Atani” (“for you” in Japanese) tool offers a better overview and is suitable for anyone who trades regularly, invests medium term or just hodls. Because with Atani you can group the APIs of 23 exchanges to discover the cheapest price. Save $720 a year because Trading View Professional is included for free. You have portfolio tracking on your trades and 1,320 price alerts keep you up to date via email, SMS or call. You can control all of these functions from one panel, allowing for a huge gain in efficiency. With a free tax report, you have an all-in-one solution for all your needs.
Next, we will show you how you can survive the volatility of the crypto markets in a more relaxed and successful way.
Each order has a different purpose and trading style. Anyone who constantly monitors the charts can use market orders to buy the best price currently available quickly and without delay.
A market order on Atani is easy to execute.
- Check which exchange you have enough fiat currencies to spend on. In the example, you can see that USDT is on Binance, Kucoin, and Bitfinex.
2. Compare the price summary on which exchange your trade is most worthwhile and select the appropriate price pair.
In this example, buying Bitcoin on Binance is cheaper with the Bitcoin/Tether price pair.
3. In the order window, select “Market Order” and enter the amount you wish to buy or use the percentage selection to save yourself the math if you wish to invest a portion of your fiat currencies.
4. Click Buy to activate the order. Your order will briefly appear in the “Open Order” window, but must be confirmed immediately.
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However, market orders do not take into account sudden price corrections, which means you can quickly regret buying coins too expensive or selling them too cheap.
Therefore, you should also learn how “limit orders” work. The order is given a price limit and then activated when the market price of the coin exceeds it.
A limit order on Atani starts again with step 1 (choose the exchange where your fiat currencies are) and 2 (choose your price pair and exchange).
- Select “Limit Order” from the menu and make your assessment of when you are ready to trade. In this example, we place a buy order that should be triggered at $45,100.
4. Click Buy which will activate your order and Atani will notify you that the order has been activated.
stop limit order
Limit orders have the disadvantage that they are only triggered by a price signal. But if the market continues to drop after our $45,100 order, you bought too much.
A stop-limit order, on the other hand, has two conditions that help you act with foresight: before setting the desired price (limit), you previously activate a stop price, from which the order is activated.
If you want to buy, enter the limit price for which you want to buy. With the stop price, you enter a maximum value for how much you are willing to spend.
How to place a stop limit order:
- In this example it is 7/11/21. You’ve already seen a small price increase and think it’s not worth buying back up to $62,200.
2. Therefore, select “Stop Limit” in the order menu and enter the limit as USD 62,200. So the threshold at which you are willing to buy.
3. Then you set the cap at $64,400, the amount at which Bitcoin becomes too expensive for you to enter.
4. Click Buy to place your order.
Take Profit Order (Market)
If you have a clear idea of how much profit you want your trade to make, you can implement this with a “take profit order” to make potential profit before the price drops again. TK orders can be configured as market or limit orders.
Going back to the example from the November 7, 2021 course: You expect to start with an investment of $1,000 at a price of $62,200 and exit with a maximum of $63,300.
You complete your order as follows:
Take profit limit order
With the “Take-Profit Limit Order” you can adjust the conditions of your trade even more precisely. The “limit order” part determines how high the price needs to be at least to get the desired profit.
Let’s say the price of bitcoin is currently $59,000 and your new goal is to sell $1,000 worth of bitcoin when the price is $62,000.
- To close the order at $62,000, set the limit to $61,900. From here the order is triggered.
- With Take Profit, you enter your reserve price of $62,000
- In the amount you enter your 1,000 USD in BTC.
If no one in the market is willing to buy your bitcoin for $62,000, the order would still not close below $61,900.
OCO limit order
One-Cancels-Other are orders where two orders are placed that cancel each other if the conditions of one of the two are met.
It combines a limit order with a stop limit order, which protects your profits (limit) and protects you from possible losses (stop limit).
- In the expectation that prices will rise, you indicate the amount of the sale, for example, your profit of 1,000 USD from the last trade, represented in ₿.
- Set the limit price at which you want to sell. In this case, you would sell it for $63,000.
- If prices drop, you place a sell order, which protects your profits. At “Stop Price” it carries a stop signal of $44,000 which triggers the limit order of $43,000.
With this combination you can minimize your risk and plan your trades from entry to exit in one easy time.
In summary, Atani’s six order types offer various options to trade quickly or with anticipation in the market.
If you are more of a market and limit order trader or investor, you can always stay up-to-date with 1,320 price alerts and trade from anywhere through any connected exchange with the Atani Android app.
Are you curious? Here you go directly to Atani.
Have fun and good luck!
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