A market order is executed immediately at current market prices. The trader who wants his order filled immediately will choose this order type.
Users’ operation: input quantity, adjust leverage
The limit order specifies the highest price that the user is willing to buy or the lowest price that the user is willing to sell. After the user sets the limit price, the market will achieve a preferential price in the favorable direction to reduce the transaction cost. However, if the set price is far from the current market price, the order may not be filled.
Users’ operation: enter quantity, enter price, adjust leverage
When the trader predicts that the price will rise or fall when there is a breakthrough at a certain price level, he can set a trigger price in the trigger order. When the market price reaches the trigger price, the order will be executed at the market price.
For example, now the price of XBTUSD is 11000. Trader A believes that there will be a radical increase in the price of XBTUSD when it breaks through 12000. Therefore, Trader A set a trigger order to buy when the market price reaches 12000. Because of the huge volatility of the price of cryptocurrencies, the fill price will be around 12000.
Stop Loss and Take Profit
Stop Loss from Filled: The user sets a distance. When the market price changes in an unfavorable direction and reaches the trigger value, the positions will be closed to stop loss.
Stop Loss Price: The user enters a stop loss price. When the market price reaches the stop loss price, the positions will be closed to stop loss.
Trailing Stop: The user sets a trailing distance from the last price for a stop loss order. It only triggers with the favorable direction of the position. Following the profitable trade direction and increasing the trigger value to stop loss, the user can guarantee most profits or reduce losses even if there is a reverse change in the market trend.
Example: The user buys 1 BTCUSD CFD, the entry price is 5200, and the trailing distance is set to be 20. If the price drops directly after the entry, the stop price is 5200 - 20 = 5180. If the price rises after the entry, for example, it is 5250 now, then the stop loss price becomes 5250 - 20 = 5230.
Take Profit from Filled: The user sets a distance. When the market price changes in a favorable direction and reaches the trigger value, the positions will be closed to take profit.
Take Profit Price: The user enters a take profit price. When the market price reaches the take profit price, the positions will be closed to take profit.