Order Types

A market order is a buy or sell order that is executed immediately at the current market price. As long as there are willing sellers and buyers, market orders will be filled.

A limit order is an order to buy or sell an asset at a specific price or better. A buy limit order can only be executed at the limit price or lower, while a sell limit order can only be executed at the limit price or higher.

A stop-limit order is a conditional type of trading order that combines the features of a stop order and a limit order. The best way to understand a stop-limit order is to break it down into stop price and limit price. The stop price is simply the price that triggers a limit order, and the limit price is the specific price of the limit order that was triggered. This means that once your stop price is reached, your limit order is immediately placed on the order book.

Take Profit / Stop Loss is a market order that is executed when the price reaches a specified level. For a “Long” position, the Take Profit price should be set above the entry price, and the Stop Loss price should be set below the entry price. For a “Short” position, the Take Profit price should be set below the entry price, and the Stop Loss price should be set above the entry price.

For Take Profit, the Bid price is monitored.

For Stop Loss, the Ask price is monitored.

A trader can set up to 6 Take Profit targets in the bot Trading Terminal and bot settings. Just like with a single Take Profit, these can be defined as either an exact price or a percentage. The sum of all Take Profits must be equal to 100% of the portfolio used to enter the strategy.

A Trailing Stop is a market order that is executed if the price reaches your activation price. The trailing price is calculated as a percentage change from the entry point in the direction of your position.

Example: You start a Long position by buying BTC-PERP at $10,000, with an Activation Price of 1% and a Trailing Stop of 5%. This means that if the price reaches $10,100, your trailing price becomes active. The trailing amount will be $505 (5% of $10,100). If after reaching $10,100 the price drops down to $9,595, the stop loss market order will be triggered and your position will be closed. If the price continues to rise, the trailing price will move in the same direction, maintaining the $505 difference between the current price and the trailing value.

This feature is available in the Dashboard. Once you enter a trade, you can exit the position at any time by clicking the Market Close button. A market order to exit the position will be executed.

You can easily swing your position in the opposite direction from the Dashboard.

This feature is available in the Dashboard. If you placed a limit order but your price was not filled and the market reversed, you can execute the order at the market price with a single click.