Order Types Available on FREE2EX
Choosing the right order type helps you manage your trades more precisely and respond to market changes quicker. The platform offers different order types, from simple market orders to more flexible pending orders. This article explains how they differ and when to use them.
In margin trading, additional Stop Loss and Take Profit fields are available for each order type.
- Stop Loss automatically closes a position when the specified price is reached and helps limit potential losses.
- Take Profit automatically closes a position when the specified price is reached and allows you to lock in profits.
SIMPLE VIEW
Market is a market order which is executed immediately at the current market price.
Volume specifies the amount of the asset you want to buy or sell. In this example it is 550 ADA, as this is the minimum amount.
Limit is a limit order which is executed only at the specified price or a better price.
Price specifies the price at which you want to buy or sell the first asset in the trading pair. This order will also appear in the order book.
ADVANCED VIEW (MARKET)
Slippage Control is a setting that limits how much the actual execution price of an order may differ from the expected price. It can only be set within the value specified in the instrument specifications.
ADVANCED VIEW (LIMIT)
SELL/BUY toggle switches between selling (SELL) and buying (BUY).
Price is the price at which you want to buy or sell the first asset in the trading pair.
Visible Volume* allows you to specify how much of the order will be visible in the order book. This can be useful for hiding the full order volume. You will see the full order volume.
Time in Force determines how long the order remains active:
- GTC (Good 'Til Cancelled) – the order remains active until you cancel it.
- GTD (Good Till Date) – the order remains active until a specified date; it will either be executed or cancelled.
- IOC (Immediate or Cancel) – the order is executed immediately for the available volume and any unfilled portion is cancelled. There is a high probability that the order will not be fully executed if the volume is large.
*Visible Volume in limit orders allows a trader to specify which portion of the limit order will be visible to other market participants in the order book. The remaining portion of the order remains hidden until the visible portion has been executed.
ADVANCED VIEW (STOP)
The main difference between a Limit order and a Stop order is that with a Limit order you specify the price at which, or better, you want to buy or sell.
With a Stop order you specify the price at which the order is activated and then executed at the market price. This type of order can be used to help reduce potential losses and risks.
ADVANCED VIEW (STOP LIMIT)
Stop Price is the price at which the order becomes active and creates a limit order.
Limit Price is the price at which the order will be executed once activated. The limit price may be equal to or better than the stop price.
Please note: When using the "Visible Volume" option, the taker fee applies regardless of how the order is executed.
ADVANCED VIEW (ORDER STRATEGIES)
One Cancels the Other (OCO) strategy allows you to place two orders simultaneously. When one of the orders is executed, the other is automatically cancelled. For example, you can set up an order to either buy or sell.
One Triggers Another (OTA) strategy consists of two orders, where the execution of the first order automatically activates the second order. For example, you can buy as asset at a lower price and then sell at a higher price.
Order Ladder strategy allows you to place a series of buy or sell orders at different price levels. This strategy can be useful for averaging positions or entering the market gradually.
Order by Date (OBD) strategy allows you to specify the exact date and time when the order becomes active.