What is the complete process of entrusting orders on OYi Contract?

The OYi Contract platform empowers traders with various entrusting order types, including limit, market, stop-limit, and stop-market orders, allowing them to execute sophisticated trading strategies effectively.

Feb 03, 2025 at 10:30 am

Key Points:

• Understanding the OYi Contract Platform
• Types of Entrusting Orders
• Placing and Canceling Entrusting Orders
• Monitoring and Managing Order Status
• Troubleshooting Common Issues

Step 1: Understanding the OYi Contract Platform

OYi Contract is a perpetual futures trading platform that offers a wide range of cryptocurrencies for trading. It operates on a decentralized blockchain network, providing users with transparent and secure trading experiences. The platform offers advanced features such as leverage trading, order types, market depth, and professional charting tools. The intuitive interface and user-friendly design make the platform accessible to both new and experienced traders.

Step 2: Types of Entrusting Orders

OYi Contract supports various types of entrusting orders, allowing traders to execute their trading strategies effectively. These include:

• Limit Order: Places an order to buy or sell a cryptocurrency at a specified price. It is executed only when the market price reaches the specified price.
• Market Order: Executes an order to buy or sell a cryptocurrency at the current market price. It is executed immediately, ensuring the quickest possible trade execution.
• Stop-Limit Order: Combines a stop order and a limit order. It triggers a limit order when the market price reaches a predetermined stop price.
• Stop-Market Order: Combines a stop order and a market order. It triggers a market order when the market price reaches a predetermined stop price.

Step 3: Placing and Canceling Entrusting Orders

To place an entrusting order, follow these steps:

1. Select the desired cryptocurrency pair and click on the "Trade" button.
2. Choose the order type from the available options.
3. Enter the order details, including the price, quantity, and leverage.
4. Preview and confirm the order details.
5. Click on the "Place Order" button.

To cancel an existing order, follow these steps:

1. Go to the "My Orders" section.
2. Find the order you wish to cancel.
3. Click on the "Cancel" button next to the order.
4. Confirm the cancellation request.

Step 4: Monitoring and Managing Order Status

The "My Orders" section provides real-time information on the status of all your entrusting orders. You can monitor the following details:

• Order ID
• Order type
• Crypto pair
• Order side
• Price
• Quantity
• Average execution price
• Executed quantity
• Remaining quantity
• Order status (active, filled, canceled, etc.)

You can also modify open orders by adjusting the price or quantity, or cancel them if necessary.

Step 5: Troubleshooting Common Issues

If you encounter any issues while placing or managing entrusting orders, check the following:

• Ensure you have sufficient funds in your trading account.
• Verify that you have entered the correct order details.
• Check the order type and make sure it aligns with your trading strategy.
• Review the market depth to ensure there is liquidity at the specified price.
• Contact OYi Contract support if the issue persists.

FAQs

• What is the minimum order size on OYi Contract?

  • The minimum order size varies depending on the traded cryptocurrency pair. Check the platform's specifications for specific requirements.

• Is there a fee for placing entrusting orders?

  • OYi Contract charges a small fee for each executed trade. Refer to the platform's fee schedule for details.

• Can I use leverage when placing entrusting orders?

  • Yes, you can leverage your position by selecting the "Leverage" option while placing an order. However, use leverage responsibly as it can amplify both profits and losses.

• How can I track my order history?

  • The "My Orders" section provides a comprehensive history of all your executed and canceled orders.

• Where can I get support for entrusting orders on OYi Contract?

  • OYi Contract offers 24/7 customer support through various channels, including live chat, email, and social media.