StarEx will open Market Trading, Take Profit&Stop Loss, and Plan Delegation Strategy in spot trading at 14:30 on September 6, 2022 (GMT + 8), you are invited to experience it!
What is Market Trading?
Market orders will be executed at the current market price as soon as possible after the user places the order. When placing a market order, you can choose [Quantity] or [Volume] to buy or sell. For example, if you want to buy or sell Bitcoin in a certain amount, it is recommended to choose [Quantity]. However, if you want to buy Bitcoin with a certain amount of money,such as 10,000 USDT, placing a market order with [Volume] is a better option.
Usually, you can use these two functions to place buy and sell orders. However, if you place an order after the system calculates the amount available to you, the asset price may change significantly and the order will fail to place. This usually happens when the buy/sell ratio is close to or equal to 100%.
What is Plan Delegation?
Planned order refers to the pre-set trigger conditions and the order price and quantity. When the latest transaction price in the market reaches the trigger condition, the system will place an order according to the order price and quantity set in advance.
[Features]
Planned delegation supports two types of “limit order” and “market order”. The number and price of orders placed must follow the existing trading restrictions. Relevant functions have been launched in the currency and leveraged trading areas.
Before the planned order is triggered, the assets corresponding to the order will not be frozen; after the planned order is triggered (when an order is placed to buy or sell according to the price and quantity set in advance), the assets corresponding to the order will be frozen.
Planned delegation is not necessarily triggered. Affected by factors such as price restrictions, account balances, transaction pair delisting, network abnormalities or system upgrades, planned delegation may trigger failure.
After the plan order is triggered, the transaction may not be completed. Affected by market conditions. When the market fluctuates greatly and the price rises or falls sharply, the limit order or market price triggered by the plan order may not be completed.
The limit order triggered by the planned order is the same as the ordinary limit order, and the order is placed according to the order price set by the user in advance. The so-called limit order means that when the price of the sell pending order is lower than the current market price, it will be filled according to the market price; when the price of the buy pending order is higher than the current market price, it will be filled according to the market price. The order cannot be guaranteed to be filled and depends entirely on the market conditions at that time.
The plan order triggers a successful market order. It is the same as an ordinary market order, and buys or sells at the current market price according to the buy amount or sell quantity set by the user in advance. The order cannot be guaranteed to be filled and depends entirely on the prevailing market conditions.
[Parameter description]
Trigger price: When the latest transaction price reaches the set trigger price, the order will be triggered and the order will be placed.
Order price: That is the buy price and the sell price. When the latest price reaches the trigger price, the system will automatically order the price of the order; if the limit price is selected, the price of the system’s automatic order will be the buy/sell price you set; if the market price is selected, the system will automatically order the order. The price is the market price at the time of triggering.
Quantity: The “order quantity” after the planned order is triggered; if limit price is selected, the quantity is the buy/sell quantity you set; if market price is selected, it is the total amount of buy set when you buy, The total amount of sell set when selling. For details on how to place a plan delegation order, please refer to”Introduction to the plan delegation function”.
What is Stop-Limit?
“Stop-Limit” order means that the “trigger price”, “order price” and “order quantity” are preset. The latest price reaches the trigger price, and the order will be placed at the order price to help you keep profits or reduce losses. Explanation of terms:Trigger price: When the “latest price” reaches the set “trigger price”, the “take profit and stop loss” order will be triggered to complete the order. Order Price: After the “Stop-Limit” order is triggered, the order will be placed at the order price. Quantity: “Order Quantity” after triggering.
Indicator description:
When buying: The order price cannot be higher than 110% of the trigger price.
When selling: The order price cannot be lower than 90% of the trigger price.
For details on how to place a plan order, please refer to “Introduction to Stop-Limits Function”.