Limit Orders
Limit Orders: Setting Your Own Price
A limit order allows you to buy or sell YES/NO shares on Zeitgeist at a specific price (or better). This gives you more control over your trades, but your order will only be executed if the market price reaches your specified limit.
How Limit Orders Work:
When you place a limit order, you're essentially saying, "I want to buy/sell X number of shares, but only if the price is at or better than Y."
Buy Limit Order: You specify the maximum price you're willing to pay for YES or NO shares. Your order will only be executed if the market price is at or below your limit price.
Sell Limit Order (Conceptual - See "Buy NO"): Because the platform use "Buy YES/NO", concept of "sell" need to convert:
If the user wants to "sell" YES at $0.6, it is a buy "NO" order at $0.4.
Step-by-Step Guide (Limit Order):
Navigate to the Narrative Details Page: Find the narrative you're interested in.
Choose Your Belief and "Buy YES" or "Buy NO".
Select "Limit Order": Choose the "Limit Order" option (this might be a tab or a toggle switch).
Enter the Number of Shares: Specify how many shares you want to buy.
Enter Your Limit Price: This is the most important step.
"Buy YES" Limit Order: Enter the maximum price you're willing to pay per share.
"Buy NO" Limit order: Enter the maximum price you're willing to pay per share.
Review the Estimated Cost (and Total): The interface will show you how much you'll need, depends on the share price.
Confirm Your Order: Click the appropriate button to place your limit order.
Wallet Approval: Approve the transaction in your Solana wallet.
Order Placement: Your limit order will be added to the order book, but it won't be executed immediately unless the market price is already at or better than your limit price.
(Screenshot: Show the process of placing a limit order, highlighting each step.)
Advantages of Limit Orders:
Price Control: You know the worst-case price you'll get (or better).
Reduced Slippage Risk: You're less likely to experience unfavorable slippage.
Strategic Trading: Allows you to implement more sophisticated trading strategies.
Disadvantages of Limit Orders:
No Guarantee of Execution: Your order might never be filled if the market price doesn't reach your limit.
Requires More Patience: You may need to wait for the market to move to your desired price.
When to Use Limit Orders:
Limit orders are best suited for situations where:
You have a specific price target in mind.
You're willing to wait for the market to reach your desired price.
You want to minimize slippage.
You're implementing a more advanced trading strategy.
Market with very high volatile
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