To meet the needs of users in different trading scenarios, the B9 USDT perpetual contract supports three order types: market orders, limit orders, and stop-loss/take-profit orders. The differences between the different order types are as follows:
1. Market Price List
Market orders, as the name suggests, buy or sell at the best available market price, offering the advantage of fast execution and ensuring users lock in their positions. The downside is that slippage can occur during market fluctuations, resulting in higher costs for users.
2. Price Limit Order
A limit order is a type of order that allows users to set their desired highest or lowest bid or ask price, as well as the quantity to be executed. When the market price reaches the user's order price, the system will execute the order at the best price within the limit range.
Limit orders provide users with a way to execute trades at the best possible price, but in actual trading, limit orders may be executed immediately. The main reasons are as follows:
1. The price of multiple orders is higher than the selling price.
2. Short selling order price is lower than bid price 1
Please note that both of the above transaction methods will incur a Taker fee.
3. Stop- loss/take- profit ( TP/SL)
The B9 take-profit and stop-loss function allows users to set take-profit and stop-loss simultaneously. When the price reaches the take-profit or stop-loss trigger price, all positions will be closed at the market price.
Go long
If the marked price is greater than or equal to the preset take-profit price, the take-profit order will be triggered, and the profit will be locked at the market price.
If the price is below or equal to the preset stop-loss price, the take-profit order is triggered, and a market order is executed to control losses.
Short
If the marked price is less than or equal to the preset take-profit price, the take-profit order is triggered, and the profit is locked in at the market price.
If the marked price is greater than or equal to the preset stop-loss price, the stop-loss order will be triggered, and a market order will be executed to control the loss.
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B9 Crypto Operations Team
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