What is the process for placing orders on Ouyi Contract?

Limit orders on Ouyi Contract give traders precise control over the execution price, ensuring their trades are executed at the desired level or better.

Jan 31, 2025 at 04:55 pm

Key Points of Ouyi Contract Order Placement Process

• Introduction to Ouyi Contract Order Types
• Step-by-Step Guide to Placing a Limit Order
• Understanding Market Orders and How to Place Them
• Advanced Order Types: Stop-Limit and Stop-Market
• Managing and Adjusting Open Positions

Ouyi Contract Order Types

Ouyi Contract offers a range of order types to accommodate different trading strategies:

• Limit Order: Sets a specific price at which the trader wants to buy or sell a contract, ensuring the execution only at that price or better.
• Market Order: Executes immediately at the current market price, providing quick entry or exit from positions.
• Stop-Limit Order: Combines a stop price (which triggers the order) with a limit price (which determines the execution price), offering control over both trade timing and execution price.
• Stop-Market Order: Similar to a stop-limit order but executes at the current market price once triggered, providing quick trade execution without price control.

Step-by-Step Guide to Placing a Limit Order

1. Select the Contract: Choose the desired contract by filtering for underlying asset, expiry date, and leverage.
2. Choose "Limit" Order: On the order entry screen, select the "Limit" order type.
3. Set Order Parameters: Specify the desired quantity, limit price, and stop price (if applicable).
4. Review Order Details: Confirm all order parameters, including trading fees, before submission.
5. Place Order: Click on "Buy/Long" or "Sell/Short" to place the order and enter the market.

Understanding Market Orders and How to Place Them

1. Immediate Execution: Market orders are executed immediately at the current best market price.
2. Quantity and Direction: Specify the desired quantity and choose "Buy/Long" or "Sell/Short" to enter the market.
3. Execution Price: The execution price of a market order will vary slightly from the displayed price due to market fluctuations.

Advanced Order Types: Stop-Limit and Stop-Market

1. Stop-Limit Order:

   • Trigger Price: Sets the price at which the order becomes a limit order waiting to be executed at the limit price.
   • Limit Price: Specifies the execution price for the order once triggered.

2. Stop-Market Order:

   • Trigger Price: Sets the price at which the order becomes a market order, which is then executed at the current market price.
   • Immediate Execution: Unlike stop-limit orders, stop-market orders execute immediately at the market price after being triggered.

Managing and Adjusting Open Positions

1. Viewing Open Positions: All active positions can be accessed through the "Positions" tab.
2. Closing Positions: Positions can be closed by submitting an opposite order with the same quantity.
3. Trailing Stop Orders: Traders can implement a trailing stop order to automatically adjust the stop price of their open positions as the market moves in their favor, ensuring profits.

FAQs

• What is the difference between a limit order and a market order?

  • Limit orders execute at a specific price or better, while market orders execute immediately at the current market price.

• How do I set a stop-limit order?

  • Select the "Stop-Limit" order type, specify the stop price (trigger), and set the limit price (execution price).

• What is the advantage of using a trailing stop order?

  • Trailing stop orders automatically adjust the stop price to lock in profits as the market moves favorably.

• How can I view my open positions?

  • Active positions can be found under the "Positions" tab in the Ouyi Contract interface.

• How do I manage risk when trading contracts?

  • Use stop-loss orders, manage leverage carefully, and allocate funds strategically.