Example and Explanation:
- Minimum Notional Value: Let's say the minimum notional value is $10.
- Trade Attempt: You try to place an order to buy 0.0001 BTC at $60,000 per BTC.
- Notional Value Calculation: The notional value of your order is 0.0001 BTC × $60,000/BTC = $6.
- Error: Since $6 is below the minimum required value of $10, the order will fail.
Corrected Order:
To meet the minimum notional value requirement of $10:
- Increase the quantity.
- Example Adjustment: Buy 0.0002 BTC at $60,000 per BTC.
- Notional Value Calculation: 0.0002 BTC × $60,000/BTC = $12.
- Since $12 meets the minimum required value of $10, the order will go through successfully.
How to Fix:
- Use bigger quantity
- Increase the quantity or choose a higher price to meet the minimum notional value.
By ensuring your order meets the minimum notional value, you can avoid this error and successfully place your trades.
