If the current price does not meet your wish, you can set a limit order that a trade will be executed automatically at a selected target price instead of sitting for hours in front of the computer screen.
To set a limit order, follow the simple instructions below:
1. Log in to your eToro account and choose a tool.
Click “Trade” and you will be taken to the Trade window.
2. Here, click “TRADE” and then select “Order” from the drop-down menu:
3. Choose the rate at which it will be executed and the amount of capital you wish to invest in.
In case the market is closed, click “RATE” to set a limit order. Then choose the rate at which it will be executed and the amount of money.
4. Select the BUY or SELL position as you wish and set some parameters (Stop loss, Take profit and Leverage). Then click “Set Order” to complete.
Once completed, the cash amount assigned to the order will no longer be available for trading. A limit order will remain open until it is executed or you cancel it.
Keep in mind that: Sometimes, your trade will be executed not exactly at the target price but close to your target rate due to market conditions, especially during a highly volatile market.