Due to different market analysis and trading habits, traders have diverse needs and methods of placing orders. This article will discuss how to place an order and the main types of BKEX orders: market order, limit order and plan order Definition, differences and strategy usage is introduced, the main contents include what is a market order, what are the advantages of a market order; what is a limit order, the execution strategy of a limit order, and the special usage of a limit order; what is a planned order, what is a planned order Types are briefly analyzed. BKEX offers a variety of order types to meet the needs of traders.
What is an order entrustment
Entrusted order placement refers to the act of a customer placing a trading order in a certain way, specifying the type, quantity, price, etc. of the contract to be bought and sold.
Buying/Long: refers to traders who are bullish or bullish on the future price trend, and buy a certain amount of a contract; or the trader is no longer bearish on the future price trend, but the counterparty holds a bearish contract for the future direction. The operation of buying and closing positions.
Sell/Short: It means that the trader is no longer bullish on the future price trend, but sells the long-term contract held by the opponent to close the position; or the trader is bearish or bearish on the future price trend, and sells new a certain amount of a contract.
What is a market order?
Market order means that traders can choose the leverage amount and the number of contracts to buy, but cannot set the trading price. Its biggest feature is that the order will be executed immediately, that is, according to the latest market price or market price. The specified number of contracts will be traded at the best price (under the condition that the market depth can be satisfied). The market order is the extractor of market liquidity. The market order and the limit order in the order form are matched and traded. Therefore, the trading price of the market order is determined according to price and quantity of the order in the order form, so the final trading price is uncontrollable to a certain extent. sex.
What are the advantages of market orders?
The advantage of the market order is that it can quickly enter or exit the market when the market price comes; however, it is recommended that market order traders pay more attention to the market depth and price fluctuations, so as to avoid the final average trading price deviates from the ideal price.
What is a limit order?
Limit order. The trader can choose the amount of leverage and the number of contracts to be purchased, and set the order price. When the latest market price reaches the order price, the order will be executed. Compared with market orders, limit orders have the advantage of providing certainty of the trading price.
Why is it not executed immediately at the price specified in the limit order?
A limit order allows traders to enter and exit the market at a better price, such as placing a limit buy order lower than the latest market price, or a limit sell order higher than the latest market price. The order form will be entered to deepen the market depth, and traders can view all active orders at any time in the "Current Orders" area. When the order is filled, it will act as a market liquidity provider, and a 0.05% handling fee will be charged for the limit order.
Special Uses and Advantages of Limit Orders
Limit orders can also be used as market orders: place a limit buy order above the latest market price, or a limit sell order below the latest market price. Such orders will be regarded as market orders to enter the market, and then executed immediately at the best price in the market (the upper limit is the preset trading price) (for the part where the market depth can satisfy, a 0.05% handling fee will be charged according to the liquidity extractor).
In addition, limit orders can also be used to partially or fully close a position with a take profit limit order. The advantage of a limit order is that it can guarantee that the order will be filled at an ideal price, but it also faces the risk of uncontrollable trading speed or even unfilled orders.
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