Making an Order¶
Choosing best bid will place the buy order as a limit order for the current highest bid price.
Choosing best ask will place the buy order as a limit order for the current lowest ask.
Chooing last price will place the buy order for the price of the last trade.
Choosing manual will place the buy order as a limit order for the price specified.
If using an automatic price source like best bid, best ask, or last price you can set an offset that will adjust the actual buy price by the number of ticks specified.
For example, choosing best bid and an offset of +1 tick should place your order at the top of the order book.
A tick is the minimum increment of price change allowed by the exchange and varies with the asset. Something like DENTBTC may have a tick size of 0.00000001, but ETHBTC has a tick size of 0.00000100.
For DENTBTC setting the tick offset to +2 will adjust the price by +0.00000002, but for ETHBTC the price will be adjusted by +0.00000200.
Enabling trailing profit sets up a sell when conditions are met. The first condition is the % to trigger the trailing profit. When the last price of the asset hits this level of profit the trailing profit will activate, selling the asset when the price drops by the percentage set in the deviation.
Trailing profit can be enabled or changed after the order is placed.
The sell order will be place as a market order.
Enable a stop loss to automatically exit your trade when the last price is the specified % below your buy price.
Stop loss can be enabled or change after the order has been placed.
When the stop loss is triggered the trade will be sold with a market order.
Setting a limit sell by % or price will place a limit sell order as soon as the buy is filled.
This sell order can be canceled or changed after the order is made.
This feature may also be known as take profit.
Working with an Order¶
Once an order has been places, most options can be changed, even before the order is filled.
The Cancel Buy button will cancel buy. If the order has not yet been filled the buy will be canceled and the position will be considered closed. If the order has been partially filled, the buy order will be cancelled but the position will remain open with the portion that was filled.
The Sell button allows you place a limit or market sell order. If a sell order has already been placed, setting a new sell will cancel the previous sell order.
The Cancel Sell button will cancel a limit sell order if it exists. It will not have any affect on trailing profit or stop loss.
Archiving a trade removes it from the current display. This option is only available if the trade is in a completed state.
The Abandon button will close out the trade as far as the application is concerned but will not take any action on the exchange. Any limit sell orders will remain. As Maker has abandoned the trade, trailing profit and stop loss are also deactived on this trade. Use with care.