Can the validity period be set for the entrustment order of OYi Contract?

Traders can set validity periods for different order types (market, limit, and stop limit) on OYi Contract to determine the duration during which their orders stay active on the exchange.

Jan 25, 2025 at 12:48 pm

Key Points:

• OYi Contract Orders: Understanding the Basics
• Setting Validity Periods for OYi Contract Orders
• Types of Validity Periods
• Setting Validity Periods for Different Order Types
• Considerations for Validity Periods

Detailed Explanation:

1. OYi Contract Orders: Understanding the Basics

OYi Contract refers to a cryptocurrency exchange that offers derivative trading services. Traders can place orders to buy or sell cryptocurrencies with leverage, amplifying their potential gains or losses. Understanding the different types of orders available on OYi Contract is crucial for effective trading.

2. Setting Validity Periods for OYi Contract Orders

Validity periods are an essential aspect of order placement on OYi Contract. They define the duration for which an order remains active on the exchange. Traders can set validity periods to control the execution of their orders based on their trading strategies and market conditions.

3. Types of Validity Periods

OYi Contract offers various types of validity periods for its orders:

• Immediate or Fill-or-Kill (FOK): The order is executed immediately upon submission. If the entire order cannot be filled instantly, it is canceled.
• Good-Till-Canceled (GTC): The order remains active until it is manually canceled by the trader or expires due to inactivity.
• Good-Till-Time (GTT): The order stays valid until a specified time and date set by the trader. Once the expiration time is reached, the order is canceled.

4. Setting Validity Periods for Different Order Types

The ability to set validity periods depends on the order type chosen:

• Market Order: Cannot have a validity period set. These orders are executed immediately at the current market price.
• Limit Order: Can have a validity period of Immediate (FOK) or Good-Till-Canceled (GTC).
• Stop Limit Order: Can have a validity period of Immediate (FOK), Good-Till-Canceled (GTC), or Good-Till-Time (GTT).

5. Considerations for Validity Periods

Traders should consider the following factors when selecting validity periods:

• Trading Strategy: Short-term traders may prefer Immediate validity, while long-term traders may opt for Good-Till-Time validity.
• Market Volatility: In volatile markets, Immediate validity ensures faster execution but may result in less favorable prices.
• Order Size: Large orders may require longer validity periods to execute gradually.
• Risk Management: Good-Till-Canceled orders can remain active for extended periods, increasing the risk of unexpected price movements.

FAQs:

Q: Can I cancel an order with a Good-Till-Canceled (GTC) validity period?
A: Yes, GTC orders can be manually canceled at any time before they are filled or expire.

Q: What happens if an order with a Good-Till-Time (GTT) validity period is not filled before the expiration time?
A: The order will be automatically canceled.

Q: Why is setting a validity period important for OYi Contract orders?
A: Validity periods help traders control the execution time and prevent unwanted or outdated orders from lingering on the exchange.

Q: Can I set different validity periods for different legs of a multi-leg order?
A: No, all legs of a multi-leg order must have the same validity period.