1. What is order management?
All orders of sales contracts may be viewed under the "Order History". Before being matched successfully, the orders may be cancelled by clicking the "Cancel" button under the "Unfinished Orders".
Among them, the "Margin" only refers to the margins required for the orders not concluded, while the "Service Charge" only refers to the charges incurred from the concluded orders.
2. Types of orders
- Limit: An order placed at the price and in the quantity designated by the user.
- Market: An order placed at the best price quoted in the current market.
- Opponent: An order placed for opening or closing positions at the opponent’s best price. For example, an order for opening long positions is placed at the opponent’s price (for selling 1).
- Queue: An order placed for opening or closing positions at the same party’s best price. For example, an order for opening long positions is placed at the queue price (for buying 1).
- Over: An order placed for opening or closing positions at the opponent’s price + system variation price. For example, an order for opening long positions is placed at the over price (i.e., opponent’s price (for selling 1) + system variation price), to allow orders to be quickly placed within a certain price range.
3. How to place an order for contract transactions
Buy (Open Long): It refers to that a certain number of contracts are newly bought by users who go long with and are bullish on the index. "Buy (Open Long)" will increase long positions after the contracts are matched successfully.
Sell (Open Short): It refers to that a certain number of contracts are newly sold by users who go short with and are bearish on the index. "Sell (Open Short)" will increase short positions after the contracts are matched successfully.
Sell (Close Long):It refers to that long contracts are sold by users who holds long positions and is no longer bullish on the future index market, which will decrease the long positions after the contracts are matched successfully.
Buy (Close Short):It refers to that short contracts are sold by users who holds short positions and is no longer bearish on the future index market, which will decrease the short positions after the contracts are matched successfully.
4. Planned orders
The order will take effect when the contract price reaches the trigger price.
Assuming that the current price of BTC is 10,000 USD, the user submits a planned order with a trigger price of 9,500 USD, a order price of 9450 USD, and a total of 100 lots. When the BTC price declines to 9,500 USD, the order will take effect and appear in the order book as a limit order.
5.Take profit Stop loss
Take profit refers to when users believe that profit will be generated when the trade price of the futures rises/falls to a certain position and set up a take-profit order in advance, which will automatically close their position when the price reaches the take-profit threshold.
Stop loss refers to when users believe that losses will be incurred when the trade price of the futures rises/falls to a certain position and set up a stop-loss order in advance, which will automatically close their position when the price reaches the stop-loss threshold.
About take profit and stop loss:
The expected liquidation price change caused by the manual adjustment of the margin may cause the take profit and stop loss to fail.
6. Order condition
Good till Cancelled: The order will remain effective till being cancelled.
Taker only (Fill or Kill): The order should only be concluded in full immediately, otherwise it will be cancelled.
Taker only (Immediate or Cancel): The order should only be concluded immediately, otherwise it will be cancelled.
Maker only (Post only): The order will not be concluded in the market immediately. If the order is concluded with an existing order immediately, the order will be cancelled immediately.
Doex Team
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