In case users missed an opportunity to purchase tokens of a desired collectible on the primary market, they will become available on Liquid MarketPlace’s Pro Marketplace page. Here, users can access the secondary marketplace where they can resell tokens and trade ownership of collectibles with other Liquid MarketPlace users.
The Pro Marketplace is where users can do Spot trading. Here users can view real-time market Depth charts per token, the order book of Asks and Bids per token and can make order entries with Market/Limit/Stop entries.
- Market: Market order - A market order is executed at the current market price immediately when a user places the order. When placing a market order, you can either select [Amount] or [Total] to buy or sell.
- Limit: A limit order is an order that you place on the order book with a specific price. The limit price is determined by you. The trade will be executed only if the market price reaches your limit price (or better).
- Limit Order Buy Example: If the lowest current ask for a Token is $96 USD but you believe you can get your buy order filled at a lower price such as $94, it would be in your best interest to put a Limit Buy Order at $94.
- Limit Order Sell Example: If the highest current bid for a token is $95 and you believe you can sell at $110 instead, you can place a limit sell order at $110. Once the bid reaches $110 or higher in the order book, this order will fill immediately.
- Stop: A stop order is a market order that has a stop price. In other words, when the last trade price touches the stop price, the stop order will execute immediately as a market order. This allows you to limit your losses or lock in your profits.
- Sell Stop Order: You can use a sell stop order to protect yourself against market price decrease. For example, if the current market price of a token is $500 and you fear that the market is going to keep decreasing, you can set the stop price to $495 to trigger a market sell if the price drops to $495.
- Buy Stop Order: A buy stop order can be used to protect against the market price rise. For example, if the current market price of a token is $500, you can set the stop price to $600 to trigger a market buy once the price rises to $600.