How it Works

This app connects to your exchange account and provides you an enhanced trading experience. Normally the orders you place on the exchange make the coin amount unusable, and you can't place more than one order. Exchange Valet lets you place "pending orders". With pending orders, you can have as many orders as you like, because the orders are not going to block your coin balance. Pending orders are waiting to be placed on the exchange when the price touches your order price. This way you can have both stop loss orders and take profit orders set simultanously. This is also useful for setting buy orders to catch the dips.

Our 24/7 market watcher will watch the price of all markets and place your orders. If you don’t have enough balance at the time of order execution, your order will fail, and you will get notified. How to start receiving notifications?

There are different types of pending orders to suit your needs:

- Limit Buy
- Limit Sell
- Limit Panic Sell
- Market Buy(Binance only)
- Market Sell(Binance only)
- Stop-loss and take-profit
- Trailing stop-loss

LIMIT ORDERS

LIMIT BUY: Limit buy orders will be placed on the exchange when the current price of the market is getting closer(0.1%) to your order price, instead of placing the order when the price hits. For example, if you have a buy order at 0.0010, your order is going to be placed when the price is 0.00101(+0.1%). This will increase the chance of the order getting filled if the price is moving quickly.

LIMIT SELL: Limit sell orders will be placed when the best ask touches or crosses your order price.

NOTES: If the price is dropping to your order price quickly, your LIMIT SELL order might not get filled because there might be no buy orders at your price (price jumps from 0.0022 to 0.0020 but your order is at 0.0021).

If you want to increase the chance of order fill, you can use “Panic Sell” option for limit sell orders.

LIMIT PANIC SELL: This option sets the order price to %95 of your ask, and places the order when best “Bid” hits the order price. This does not mean that it will sell for 5% lower, but it will sell to best bids in the order book, selling remaining coins for lower, up to a maximum of 5% of your order price. So your order basically becomes a market order that limits your possible loss(because of no available orders) to 5%.

For example: you have a stop loss at "100". If this is a panic sell, it will execute the order with the ask price of "95". This order will eat all the best available bids from "100" to "95". Let’s say you have 10 coins…

This does not always have to be the case! For example, if you are in 5% loss and your “Fast stop-loss at 100” is triggered, in the worst case scenario, there will be tiny amounts available at the best bid prices (99,97,96), and it will sell most of the coins for 95(minimum), and your order will be sold for ~5% less.

MARKET ORDERS (Binance only)

You have the option to execute any order as a “market order”. Market Buy orders will be placed on the exchange when the best ask touches(there is a seller) or crosses your order price. Market Sell orders will be placed when the best bid touches(there is a buyer) or crosses your order price. You won’t have to worry about unfilled orders with market orders. With market orders, the order will be executed against the best prices available in the market, and is going to fill immediately. However, your order might buy/sell slightly lower/higher!

IMPORTANT: If there is not enough bids/asks at your price, your order will be executed working up the order book for the best price to fill all your order amount. This can sometimes be dangerous. Let’s look at a really bad scenario. Lets say you set a “market” stop-loss at 100.

This does not mean that your orders will sell for less if you use market orders, but is a possibility. However, it is very unlikely to happen unless you are trading with huge capital. This is an example market order execution at 0.00015600:

As you can see, trades were made for slightly higher and lower prices and the average became 0.00015616.

STOP-LOSS AND TAKE-PROFIT ORDERS

You can place stop-loss and take-profit orders as regular pending orders in BUY and SELL panels. However, your pending orders will not be in order. Let’s say you set a BUY order for 0.00012 and SELL for 0.00014, and the current price is 0.00013. Your SELL order can get executed before the BUY order and it will fail if you don’t have enough balance at that time. If you want to execute take-profit and stop-loss orders only if the BUY order is executed, you can use take-profit and stop-loss options in “Additional Options” or “Speed Trade” when you are placing the BUY order.

When you use these options, your stop-loss and take-profit orders will be regular LIMIT or MARKET orders, but they will execute only after the BUY order is executed. This means that stop-loss and take-profit orders you specify will never become pending orders if the BUY order doesn’t execute

TRAILING STOP-LOSS

Trailing stop-losses are used to maximize and protect profit as the price rises and limit losses when the price falls. Trailing stop-loss will keep track of the price and move the stop-loss price upwards by your specified percentage when the price of the currency goes upwards, but if the price falls, the stop loss price doesn't change.

IMPORTANT NOTES