Limit Orders

🚀 Photon Introduces Limit Orders to Enhance Your Trading Experience

We’re excited to introduce Limit Orders on Photon, designed to help you automate your trades and time your entries more effectively. Let’s dive into how these can take your trading strategy to the next level. 💡

Types of Limit Orders

There are three types of limit orders you can set on Photon:

  1. Buy Dip

  2. Stop Loss

  3. Take Profit

Let’s start by looking at Buy Dip. For Limit Orders, there are three ways to define your target market cap:

  1. MC Drop by %
    Choose this option if you have a target market cap percentage drop in mind for when you want to buy in. This feature provides real-time updates on market cap and price, keeping you informed at every moment.

  2. Exact Market Cap
    If you have a specific market cap value in mind, set this option. Your order will be triggered as soon as the market cap reaches or falls below the number you specified.

This functionality is designed to help you optimize your trading decisions with greater precision and ease, ensuring you get the best possible price and market conditions.

Thirdly, we’ve introduced the Target Line, a game-changer for chart enthusiasts! 📈 This feature allows you to execute Buy Dip orders by visually selecting your target directly on the chart. You can now base your trades on resistance points and other key technical indicators. Simply drag, set, and create your order – it’s that easy! 🎯

Expiration Date:

You can also set an expiration date for your order, so it automatically cancels if not executed within your chosen time frame. Select from 24 hours, 48 hours, or 72 hours to customize your trading strategy.

Once you click Create Order, your newly created order will be displayed under the Orders tab, showing all the relevant details for your active order.

This intuitive and visual approach is designed to help you take your trading strategy to new heights with more precision and control.

You’ll see the token, the amount, the condition you set, price/market cap when the order was created, your target price/market cap, when the order was triggered at, status, slippage and priority fee.

2 things to keep in mind: If you have a stop loss AND a take profit order set where your sell amount is 100% of your tokens, the moment that one of your orders successfully executes, the system will automatically cancel the other active order for you so you don’t need to manually delete it yourself.

As with everything on Photon, you can adjust the priority fee and bribe for all limit orders. Make sure to set a sufficiently high Priority + Bribe amount – these 2 play a key role in being included in the block (if you set it too low, your limit order may not get in as early as possible)

Next, let’s dive into Limit Sell Orders for a more refined trading experience:

Stop Loss

With Stop Loss orders, you have 3 ways to set your target price and market cap, just like with Buy Dip orders. Once you’ve selected your target, specify the percentage of your holdings you want to sell. Adjust your settings according to your trading strategy, and you’re ready to go!

Take Profit

For Take Profit orders, simply choose your target price/market cap, specify the amount you wish to sell, and you’re all set! This streamlined process allows you to efficiently lock in profits when your targets are met.

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