Preset Stop-limit order
It should be distinguished from stop-limit order, the usage scenarios of the two are different.
What is preset stop-limit order?
When you have a position, you can set a stop-limit order at [Position Stop-Limit Order], but when the position has not been opened, how to set a stop-limit order for the position that is about to be opened? At this time, you need to use the preset stop-limit order.
A preset stop-limit order is to set a stop-limit order while filling in the opening order. When the opening order opens a position, set a stop-limit order for this position.
How to use it?
In the order area, check ‘Stop-Limit Order' to set it.
Execution logic
The preset stop-limit order is an OTO (One Trigger One) order. An OTO order is when a main order triggers the submission of a subsidiary order.
1. Submit preset stop-limit orders
When submitting a position opening order (limit order or market order), you will submit a preset stop-limit order if you choose the stop-limit option. The preset stop-limit order consists of three orders:
Therefore, when submitting a preset stop-limit order, in addition to the parameters of the main order, parameters such as the trigger price and the order price of the stop-limit order should also be submitted.
The stop-limit trigger price must meet the following rules before submission:
Open a position with a limit price | Open a position with a market price | |
Open Long Position - Take-profit order | Trigger price > Min(main order limit price, ask one price) | Trigger price > Ask one price |
Open Long Position - Stop -loss Order | Trigger price < Min (main order limit price, ask one price) | Trigger Price < Ask one price |
Open Short Position - Take-profit Order | Trigger price < Max (main order limit price, bid one price) | Trigger Price < Bid one price |
Open Short Position - Stop-loss Order | Trigger price > Max(main order limit price, bid one price)) | Trigger price > Bid one price |
2. The preset stop-limit order has been submitted, waiting for the transaction
After the order is submitted, it will be displayed in the 'Current Order', because the preset stop-limit order is essentially an ordinary order, but with the stop-limit information attached.
For orders in this state, the stop-limit order will display 'not effective', which means that the stop-limit order has not been submitted and is waiting for the main order to be completed.
When the main order is completed, the stop-limit will display "effective", which means that the stop-limit order has been placed according to the parameters set at the beginning.
3. After the main order is completed, place a stop-loss order
When the main order is executed and a position with the same direction as the order is formed, the stop-limit order will be submitted according to the previously set parameters. The quantity of the stop-limit order is the quantity of the main order. The quantity of market stop-limit orders is the number of complete transactions.
Example: Player A submitted a limit order to buy 1 BTC at 10,000 USDT, with a stop-limit attached. When the order is executed and a position is formed, the system will automatically set a stop-limit order with a quantity of 1 BTC for this position, no matter how much the order is executed. And if I submit a market order to buy 1 BTC long, after the market order is completed. The system will set a stop-limit order for the position according to the actual transaction quantity of the order.
4. The stop-limit order has been submitted, waiting to be triggered
After the stop-limit order is submitted, the subsequent execution logic is the take-profit logic of the ordinary position stop-limit order.
For details, see Stop-Limit Order.
FAQs
1. Which orders can preset stop-limit orders?
Limit order, market order, PostOnly order, IOC order, FOK order.
2. Will the subsequent increase in positions also take a stop-limit order for subsequently increased positions?
No, the quantity of the limit-stop-limit order is the quantity of the main order, and the quantity of the market price limit order is the quantity of the market transaction. Subsequently increased positions will not have a stop-limit order.
3. What happens if multiple stop-limit orders are placed on the position in the future?
There can be more than one stop-limit order, which does not affect each other, depending on which one is triggered first.
4. What does 'not effective' mean?
The stop-limit order will be placed only after the main order is executed and a position in the same direction as the main order is formed. 'Not effective' means that the placement condition has not been met, and the stop-limit order has not been placed.
Last updated