2️⃣Types of Orders Explained
Currently, Tapbit Derivatives supports 5 types of order:
Limit Order
Market Order
Trigger Order
Post Only Order
TP/SL Order (Strategy Order)
Limit Order
What is a Limit Order?
Limit Orders allow you to place an order at a specific or even at a better price. A buy Limit Order will be filled if the price matches or is lower than your limit price and then a sell Limit Order will be filled at or higher than your limit price. Please note that a Limit Order is not guaranteed to execute.
Market Order
What is a Market Order?
Market orders are matched immediately at the best available price at that given time.
Trigger Order
What is a Trigger Order?
A trigger order is an algorithmic trading strategy that allows you to set a predefined trigger price and an order price. Your order will be placed automatically at the preset order price once the market price reaches the trigger price. With this strategy, you can engage in momentum trading or exit a trade to limit risks and lock in gains. The only difference between a trigger order and a stop order is that a trigger order does not freeze your margin or positions.
Post Only Order
What is a Post Only Order?
Post Only Orders are added to the order book when you place the order, but they are not executed immediately.
TP / SL Order (Strategy Order)
What is a Limit TP/SL Order?
You can set a take profit or stop loss price before opening a position. It will follow the "Last Price" and or "Mark Price" that triggers your take profit and stop loss orders.
Take Profit / Loss Introduction
Type
Application Condition
Description
Set reminder
Take profit by Long position
Pump to Dump
The latest filled price ≥ trigger price, the take profit order will be triggered; Execute Entrusted price and quantity at limit price
The trigger price should be higher than the latest filled price, and the Entrusted limit price should be lower than the trigger price
Stop loss by Long position
Dump continually
The latest filled price ≤ trigger price, the stop loss order will be triggered; Execute Entrusted price and quantity at limit price
The trigger price should be lower than the latest filled price, and the Entrusted limit price should be lower than the trigger price
Take profit by Short position
Dump to Pump
The latest filled price ≤ trigger price, the take profit order will be triggered; Execute Entrusted price and quantity at limit price
The trigger price should be lower than the latest filled price, and the Entrusted limit price should be higher than the trigger price
Stop loss by Short position
Pump continually
The latest filled price ≥ trigger price, the stop loss order will be triggered; Execute Entrusted price and quantity at limit price
The trigger price should be higher than the latest filled price, and the Entrusted limit price should be higher than the trigger price
Positioning patterns
Tapbit supports a two direction position.
The two-direction position pattern allows for both long and short positions in a single contract and hedges the risk of positions in different directions under the same contract.
Last updated