Stop Order Types
1. Stop-Limit Order: You need to preset the stop price, the order price, and the amount. When the stop price is reached, the system will submit a limit order at the preset order price and amount.
2. Stop-Market Order: You need to preset the stop price and the order amount. When the stop price is reached, the system will submit a market order at the preset order amount.
Note: You can choose [Latest Price], [Mark Price], or [Index Price] as the trigger price for stop orders.
How to Place a Stop Order?
1. Stop-Market Order
To place a Stop-Market order, you need to preset the stop price and the order amount. When the stop price is reached, the system will submit a market order at the preset order amount.
When the Stop Market Order is triggered, Auction-Style Liquidation Strategy will be applied to execute the order. For more details, please refer to Auction-style Liquidation Strategy.
Suppose the LTC price will rise in the future, you can buy LTC contracts to make a profit. If you think that LTC price will probably drop (Liq. Price: 53.23 USDT), you can submit a stop-market order to sell LTC and stop loss (see below example).
(1) Select [Stop-Market];
(2) Select [Mark Price] as the stop price type;
(3) Set the [Stop Price] at 78 USDT;
(4) Set the [Amount] at 0.3 LTC;
(5) Click [Sell/Short] to submit the order.
The order will not be sent to the market immediately after submission. Only when the mark price hits 78 USDT, it will be triggered. Then the system will post a market order at the preset amount and sell it at the best available price until the order is fully executed.
2. Stop-Limit Order
To place a Stop-Limit order, you need to preset the stop price, the order price, and the amount. When the stop price is reached, the system will submit a limit order at the preset order price and amount.
Suppose the LTC price will rise in the future, you can buy LTC contracts to make a profit. If you think that LTC price will stop rising when it reaches 82 USDT, you can submit a stop-limit order to sell LTC and take profits (see below example).
(1) Select [Stop-Limit];
(2) Select [Latest Price] as the stop price type;
(3) Set the [Stop Price] at 82 USDT;
(4) Set the [Limit Price] at 81 USDT;
(5) Set the [Amount] at 0.3 LTC;
(6) Click [Sell/Short] to submit the order.
The order will not be sent to the market immediately after submission. When the latest price reaches 82 USDT, it will be triggered, and the system will post a limit order at the preset price and amount. Since the current market price is 82 USDT, which is better than the preset limit price of 81 USDT, the order will be filled immediately at 82 USDT.
FAQ About Stop Order
1. Will my assets be frozen after I submit the stop order?
Stop orders do not freeze assets. Please ensure your account has sufficient balance, so that when the order is triggered, there will be enough funds available to fulfill the order. Otherwise, the stop order will fail.
2. Why was my stop order not executed even though the stop price was reached?
Due to rapid market fluctuation, insufficient account balance, network problems, system upgrades, etc., your stop order may not be triggered.
To illustrate insufficient account balance:
(1) For a stop-buy order: When the market price fluctuates to the trigger price, if the account balance is insufficient to buy the corresponding amount of crypto, the order cannot be submitted to the market.
(2) For a stop-sell order: If the market price fluctuates to the trigger price, but the asset balance is lower than the amount to be sold, the order cannot be submitted to the market.