Arzine from the Jupiter team, we have prepared the translation of the AMA event on Limit Order Tool for you. Thanks to JUPreddit for the AMA event.
How does the Limit Order Tool work? What advantages can it provide when trading on Solana? How can the Limit Order tool be optimized?
Let's take a look at Arzine's answers together.
Question: What is a Limit Order Instrument?
Answer: The Limit Order Tool allows you to set up to buy or sell tokens at a specific price. It constantly monitors market conditions and executes your trade when the price conditions are met.
This helps you maintain greater control and minimize losses.
Question: What are the future improvements to the Limit Order Tool?
Answer: Over the past few months, we have been working on Limit Order trackers to get orders filled faster. However, we are experiencing some challenges with how Spot limit orders work in Jupiter and are continuing to experiment to further improve our tool.
Question: Is it possible to add a stop-loss feature with the Limit Order Tool?
Answer: I personally want to provide the ability to skid for stop losses and Limit Orders. We are working on technical limitations to achieve this.
Question: What do you think about the security of the Limit Order Tool?
Answer: Limit Orders prevent others from accessing your orders and executing them at a bad price. Currently, limit orders are permissioned, meaning only our broker can fill your orders at the exact price you specify.
Question: What is a trigger order?
Answer: This is a concept we are considering using to trigger an order when the price reaches a certain level and ensure the transaction is executed. It will work with the user defined price slippage rate.
Question: Is it planned to implement dynamic stop loss on the limit order instrument?
Answer: We are looking into dynamic stop loss. For this we need a reliable data provider, which is not easy because most data providers only support popular tokens.
Question: Can we make a gradual order bot based on limit orders?
Answer: It is absolutely possible with our V2 API, but be careful with transaction placement!
Thank you @rzne_ and @JUPreddit for this awesome AMA!
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