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Buy tokens at a lower price when the desired target price is reached.
TokenSight Limit orders enable buying a certain token at a lower price for a certain amount when the specified target price is reached.
Limit orders are a great way to automate your trading; you can easily buy a certain token at a lower price without the need to constantly monitor the price.
You can add Limit orders by going to the Limit Order dashboard under the DEX Trading section. Click the Add Order button in the top right corner.
Add Limit Order
The Limit order configuration enables you to configure the following details:
- Wallet: The wallet that will be used to execute the trade order.
- Token: The token to buy; you can search the token by address or token symbol.
- Amount In (ETH): The buy amount in ETH; how much ETH you are willing to spend on buying the token. The selected wallet doesn't need to have enough ETH for the transaction at the moment of creating the order, but it must have enough ETH when the order needs to be executed, otherwise the transaction will fail.
- Target Price: The target token price at which to buy the token. Currently the price can only be denominated in ETH, however we are adding support for USDC in the coming weeks.
- Max Slippage: The maximum amount of slippage you're willing to tolerate for the trade. Use Auto to let TokenSight decide the best slippage for the trade.
- Expiration: Set the expiration of the order in hours, where the maximum expiration is 120 hours.
You can see an example configuration in the following image:
Add Limit order example configuration
The token WISE should be bought from Wallet 1 for 1.956 ETH at price of 0.000066 ETH per token. The amount of WISE tokens bought will be around 29,149.
When you are done with configuring the Limit Buy order, press the Add Order to submit the limit order.
The Limit order will be executed when the Target Price for the selected token is reached. If the account doesn't have enough balance, the transaction will immediately fail.
Note that the selected wallet balance must be >= Amount In (ETH) + ETH Amount for gas.
The Limit order transactions are executed in an intelligent way to maximise the probability for a successful execution, while a sufficiently high gas price is used (based on the current gas price) to ensure the order is executed correctly.