6. The contract order description

Due to different market analysis and trading habits, traders have diverse needs and methods for placing orders. This article will discuss how to place orders and the main types of Dcoin orders: market order, limit order and planned order definition, differences and The strategy usage is introduced. The main content includes 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, the special usage of a limit order; what is a planned order, and what is a planned order? A brief analysis of the type. Dcoin provides a variety of order types to meet the needs of traders.

What is an order
Entrusted order refers to the behavior of a customer issuing a transaction order in a certain way, specifying the type, quantity, price, etc. of the intended purchase and sale contract.

Transaction Type
Buying/Long: Refers to a trader who is bullish or bullish about the future price trend, and newly buys a certain number of a certain contract; or the trader is no longer bearish about the future price trend, and the counterparty holds a bearish contract. The operation of buying and closing a position.
Selling/shorting: It means that the trader is no longer bullish about the future price trend, but the long-term contract held by the opponent sells and closes the position; or the trader is bearish, bearish on the future price trend, and sells newly A certain number of certain contracts.

What is a market order
A market order means that a trader can choose the amount of leverage and the number of contracts to buy, but cannot set the transaction price. The biggest feature is that the order will be executed immediately, that is, at the latest market price or market The specified number of contracts is traded at the best price (provided 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 transaction price of the market order is determined by the price and quantity of the order in the order table, so the final transaction price is uncontrollable. 

What are the advantages of market orders
The advantage of market orders is that they can quickly enter or exit the market when the market comes. However, it is recommended that traders of market orders pay more attention to market depth and price fluctuations to avoid the final average transaction price deviating from the ideal price. 

What is a limit order
For a limit order, the trader can choose the amount of leverage and the quantity of the purchase contract, 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 transaction prices.

Why didn't the transaction be executed immediately at the specified price of the limit order
Limit orders allow traders to enter and exit the market at a better price, such as placing limit buy orders lower than the latest market price, or limit sell orders higher than the latest market price. After such limit orders are set Will enter the order table to deepen the market depth, traders can view all active orders in the "current order" area at any time. When an order is filled, it will act as a market liquidity provider, and a 0.05% handling fee will be charged for the transaction of a limit order.

Special usage and advantages of limit orders
Limit orders can also be used as market orders: set a limit buy order higher than the latest market price, or a limit sell order lower than the latest market price. This type of order will be regarded as a market price order to enter the market, and then executed immediately at the best market price (the upper limit is the preset transaction price) (the part that can be satisfied by the market depth will be charged 0.05% according to the liquidity extractor).
In addition, limit orders can also be used for partial or full liquidation stop profit limit orders. The advantage of a limit order is that it can guarantee the order to be filled at the ideal price, but it also faces the risk of uncontrollable transaction speed or even unfilled order.