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Limit Order Not Filled

During trading, some users may encounter situations where limit orders remain unfilled for an extended period. The following will help you quickly understand the mechanics of limit orders and common reasons for non-execution.

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I. What is a Limit Order?

A limit order is an order placed in the order book to buy or sell at a specified price.

  • Buy Limit Order: You want to buy at or below the specified price.

  • Sell Limit Order: You want to sell at or above the specified price.

The order will only be executed when the market price reaches your limit price or a better price becomes available.

With limit orders, you can:

  • Trade at more favorable prices.

  • Precisely control the execution price.

However, the trade-off is: execution is not guaranteed.

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II. When Will a Limit Order Be Filled?

Taking a buy limit order as an example, the order must meet all three of the following conditions to be executed:

1️⃣ The market price reaches your limit price (or better)

  • If the current market price is higher than your buy limit → the order will not be filled.

  • If the current market price is equal to or lower than your buy limit → the order may be filled.

Example:

  • Current market price: 2,400 USDT

  • Your buy limit: 1,500 USDT

In this case, the order will remain in the order book. It will only be executed when the price drops to 1,500 USDT or lower. If filled below 1,500 USDT, it means you have obtained a better price.

2️⃣ Sufficient liquidity in the market Even if the price reaches your limit, if:

  • The counterparty’s order volume is insufficient,

  • Or the sell orders cannot fully match your buy order,

then the following may occur:

  • The order remains completely unfilled (no counterparty order).

  • The order is partially filled (only part of the volume is matched).

The unfilled portion will remain in the order book, awaiting further matching.

3️⃣ Sufficient matching time In highly volatile market conditions:

  • The market price may briefly touch your limit price and quickly rebound.

  • Your order may not be matched within that price window.

In such cases, even if the price "appears" to have reached your limit, the order may still not be filled.

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III. Common Reasons Why Limit Orders May Not Be Filled

  • The price has not truly reached the limit level.

  • Insufficient order book depth.

  • Excessive volatility prevents timely matching.

  • Large orders placed on trading pairs with low liquidity.

All of the above are normal market behaviors, not system anomalies.

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IV. How to Increase the Probability of Limit Order Execution?

You may consider the following methods:

  • Set the limit price closer to the current market price.

  • Split large orders into smaller batches.

  • Trade on pairs or during periods with better liquidity.

  • If quick execution is desired, choose a market order.

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V. Summary

  • Limit orders allow you to control prices but do not guarantee execution.

  • Execution requires three conditions simultaneously: price, liquidity, and time.

  • Non-execution is not necessarily abnormal—it is a normal outcome of market matching.

If you need further assistance, please feel free to contact NewCoin’s online customer support.

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