What is a reserve order/iceberg order?
Understanding Reserve Iceberg Orders in Cryptocurrency Trading
A reserve iceberg order allows you to hide the actual size of your order. Instead of displaying your entire order, which might have a huge market impact, you only show a fraction of its actual size.
The main advantage of this is that you're able to submit a significantly large order while only disclosing a portion of it. This is especially useful when the crypto market doesn't have enough liquidity to handle the order without causing a significant price impact.
Identifying potential icebergs is highly valuable and should be one of the focal points of your trading strategies. These types of orders are relatively difficult to determine, but you can spot an iceberg order by looking for bids that instantly reload soon after they're lifted.
Pros
- Allow you to execute large trades.
- Great for markets with low liquidity.
- Prevents other traders from determining your full trade exposure.
Cons
- Relatively difficult to spot from other traders.
How do I place reserve/iceberg order on Ndax?
Desktop
- Login tohttps://ndax.io/
- Once you log in you will be redirected to your dashboard
- Click TRADE on the left-hand side of the screen
- On the trade page, click BUY (Green button) or SELL (Red Button) on the right side of the screen
- Click the small GREY ARROW in the upper left corner of the screen to pick the CRYPTOCURRENCY/CAD pair
- Click the small GREY ARROW on the pop-up to display the dropdown list of Advanced trade orders
- Click on IOC
- Enter ORDER SIZE
- Enter LIMIT OFFSET
- Enter the display quantity
- Click PLACE BUY/SELL ORDER
Mobile Website
- Login to Ndax
- Click the Ndax SYMBOL on the top left-hand corner
- Click TRADE from the dropdown menu
- On the trade page, click BUY (Green button) or SELL (Red Button) at the bottom of the screen
- Click the small GREY ARROW on the upper left corner and select the BTC/CAD pair
- Select IOC
- Enter ORDER SIZE
- Enter LIMIT OFFSET
- Enter the display quantity
- Click PLACE BUY/SELL ORDER
To learn more about Reserve/Iceberg Orders, check out our blog:
Advance Trading: Bitcoin Reserve/Iceberg Order