How to gradually complete the entrustment order in OYi Contract?

Key Points:

• OYi Contract provides several order types to cater to different trading strategies.
• Completing an entrustment order involves understanding the order type, order parameters, and execution process.
• Each OYi Contract order type has unique characteristics and functionalities.
• Traders should carefully consider their trading objectives and risk tolerance before placing an order.
• Technical considerations, such as market conditions and order execution, are crucial for successful trading.

How to Complete an Entrustment Order in OYi Contract:1. Select an Order Type:

• Limit Order: Places an order at a predetermined price or better, providing control over execution price.

  • Sets a maximum price to buy or a minimum price to sell.
  • Protects against unfavorable price movements during execution.

• Market Order: Executes an immediate trade at the best available market price, offering quick execution.

  • Provides less control over execution price but ensures immediate order fulfillment.

• Conditional Order: Triggers an order to execute when a specific market condition is met, allowing traders to react to market fluctuations.

  • Types include Stop Order, Take Profit Order, and Stop Loss Order.

2. Set Order Parameters:

• Price: For Limit Orders, specify the desired execution price.
• Amount: Enter the amount of cryptocurrency to buy or sell.
• Trigger Price (Conditional Orders): Set the price at which the order becomes active.
• Validity: Determine the duration for which the order remains open, typically Good-Till-Cancelled (GTC) or Immediate-Or-Cancel (IOC).

3. Understand Order Execution:

• Matching Engine: OYi Contract uses a matching engine to match buy and sell orders, ensuring fair and efficient execution.
• Price Priority: Orders with better prices have priority in execution, followed by orders with the same price and earliest timestamp.
• Order Book: Displays current orders and their associated prices and amounts, providing market depth and liquidity information.

4. Review and Submit Order:

• Carefully review all order parameters before submission.
• Check the total order value, fees, and potential impact on the trading position.
• Submit the order by clicking the "Place Order" button, initiating the execution process.

5. Monitor Order Status:

• The order status can be tracked in the "Orders" tab of the OYi Contract trading interface.
• Track the order's lifecycle, from creation to execution or cancellation.
• Manage open orders, such as modifying or canceling them, as needed.

FAQs:What is an OYi Contract entrustment order?

An entrustment order in OYi Contract is an instruction to buy or sell cryptocurrency at a specific price or condition.

How do I place a limit order in OYi Contract?

Select "Limit Order" in the order type selection, specify the desired execution price, and enter the order amount.

What is the difference between a GTC and an IOC order?

A GTC order remains open until executed or canceled, while an IOC order executes immediately upon placing and cancels any unfilled portion.

How do I modify an open order in OYi Contract?

Navigate to the "Orders" tab, select the open order, and click "Modify." Adjust the order parameters and resubmit.

Can I cancel an open order in OYi Contract?

Yes, open orders can be canceled by selecting them in the "Orders" tab and clicking "Cancel."