Today I will be sharing some little tips on how to quickly sell HBD for Hive or vice versa.
The markets available on hive that is used for trading Hive, HBD and Hive engine tokens are designed with limit orders only (for most I have seen).
Limit order is a type of order used in buying or selling an asset at a specific price or better price. With limit order, if Hive price is at $0.35, you can either set an order to buy Hive with HBD at current price or set a better price like $0.28 which means; that your order will only be executed when Hive price drops to $0.28. This limit order makes it possible for one to buy assets at cheaper prices instead of the current market price.
Now, the above are some nice things about limit order, but what if you place a limit order at current price or preferred price and the order doesn't get to fill as fast as you want, the market goes rallying all the way up and your HBD still unable to buy Hive or your Hive still sitting there in order book without filling the order for HBD and the market drastically keeps dropping every hour.
What will you do? - Market order is the answer.
Market order is used for immediate selling/buying of an asset
The illustrations below will show you how I have been buying and selling here on Hive with market order.
I will be using Hive blog wallet for this exercise.
So when you go to your wallet, click on the asset(Hive or HBD) you want to sell, it will take you to market.
What you will focus on is the Ask price of Hive because that is the price you will be selling or buying Hive for.
To use the market order (as I call it) in executing your order immediately so as to catch up with the fast moving market, all you need is to slightly change the price of Hive you're selling to be above the Ask price.
Check what I did on my own; I changed the Ask price: $0.3641 to $0.361.
This slight change will do the magic of executing your orders instantly.
So basically, when you want to sell; slightly reduce the value of the Ask price and when you want to buy, slightly increase the value of the Ask price.
I really hope this whole post was worth it and you grabbed a good hack. Sorry for the long talk and thanks for reading to the end.
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