What is an Auction-style Liquidation Strategy?
CoinEx Auction-style Liquidation Strategy will calculate the target price range based on the optimal price, and carry out the limit order according to a predetermined price reduction ladder, that is, every 0.5s, the order will be re-delegated at an increase or decrease of 0.5% of the order price. It is aimed to ensure that large liquidation orders can be completely executed within a certain period of time in case of insufficient market liquidity, so as to avoid the large liquidation orders that cannot be fully executed for a long time after being placed. When a position is closed by [Stop-Market], [Take Profit or Stop Loss], [Close All] on future trading, the closing order will be executed with the Auction-style Liquidation Strategy.
The Auction-style Liquidation Strategy will be applied, when
1. [Stop-Market] is triggered
2. [Take Profit/Stop Loss] is triggered
3. use [Close All]
1. If there is an order under the Auction-style Liquidation Strategy in a certain market, another new order can not be allowed to place in the same market. Only when the strategy order ends, the placing-order function will resume.
2. If the forced liquidation or Auto-Deleveraging is triggered during the execution of the Auction Liquidation Strategy, the Auction Liquidation Strategy will be terminated and the forced liquidation or Auto-Deleveraging will be executed.