1. What is Order Delegation?
Order delegation refers to the process where clients execute trading instructions by specifying the type, quantity, price, and other parameters of the contract they wish to buy or sell.
2. How to Place a Contract Trading Order?
a) Select Contract Parameters:
- Choose the contract currency (available options: BTC, EOS, ETH, LTC, BCH, ETC, XRP, BSV, TRX, NEO, LINK, DASH).
- Select the order type (e.g., limit order, stop-loss/take-profit, advanced limit order, trailing order, iceberg order, time-weighted order, market order).
b) Specify Details:
- Enter the price (in USDT) and quantity (in coins/lots).
- The system auto-calculates the openable contract amount and post-trade margin rate.
c) Submit Order:
- Choose the trade direction (buy/long, sell/short, buy/cover, sell/close).
Margin Rules:
- Cross Margin: Order succeeds only if the margin rate ≥ (1/leverage).
- Isolated Margin: Order requires sufficient available margin.
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3. Trade Directions Explained
| Direction | Description |
|---|---|
| Buy/Long | Open a bullish position anticipating price rise. |
| Sell/Close | Close a bullish position when exiting the trade. |
| Sell/Short | Open a bearish position anticipating price drop. |
| Buy/Cover | Close a bearish position when exiting the trade. |
4. Order Types & Execution
a) Limit Order
- Sets the maximum buy/minimum sell price. Executes when the market reaches the specified price.
- Example: BTC at $13,000. A $12,900 limit buy executes if price drops ≤$12,900.
b) Stop-Loss/Take-Profit
- Triggers when market hits the preset price.
- Example: Stop-loss at $10,010 for a short position if BTC rises to $10,000.
c) Trailing Order
- Activates after a specified retracement from peak/trough.
- Example: Triggers buy if BTC rebounds 1% from $17,800 low.
d) Iceberg Order
- Breaks large orders into smaller chunks to minimize market impact.
- Example: Buys BTC at $19,000 in small increments via algo-execution.
e) Time-Weighted Order
- Splits orders dynamically based on market liquidity.
- Example: Buys 5% of opponent’s order book every 10 sec until filled.
f) Advanced Limit Order
Offers three execution modes:
- Post Only: Ensures maker status; cancels if it would take liquidity.
- FillOrKill: Fully executes or cancels immediately.
- IOC: Executes partial fills; cancels leftovers.
FAQ
Q1: Can I cancel an unfilled order?
A: Yes. All pending orders are cancelable under "Contract Orders."
Q2: What’s the minimum margin for cross-margin?
A: It must be ≥ (1/leverage). For 10x, margin rate ≥10%.
Q3: How does a trailing order work?
A: It tracks the highest/lowest price, triggering after a retracement (e.g., 1%).
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