Types of Orders
An order to buy or sell as quickly as possible at at the best available market price
The order will be executed immediately
An order to buy or sell with a restriction on the maximum price paid or the minimum price to be received
When the mark price reaches the order price, the order will be executed
Take Profit Order
Type of limit order specifies the that specifies the exact price at which to close out an open position for a profit
When the Mark Price reaches the trigger price, the Take Profit order will be executed
Stop Loss Order
An order to limit trader’s loss or lock in a profit on an existing position by closing out a position if the price reaches specific level
When the Mark Price reaches the trigger price, the Stop Loss Order will be executed
You can also set stop-loss and take-profit orders by clicking on the "Close" button and selecting the "Trigger" tab.
After creating a trigger order, it will appear in your position's row as well as under the "Orders" tab, you can edit it the order and change the trigger price if needed.
If you close a position manually, the associated trigger orders will remain open, you would need to cancel them manually if you do not want the order to be active when opening future positions.
Note that orders are not guaranteed to execute, this can occur in a few situations including but not exclusive to:
- The mark price which is an aggregate of exchange prices did not reach the specified price
- The specified price was reached but not long enough for it to be executed
- No keeper picked up the order for execution
Additionally, trigger orders are market orders and are not guaranteed to execute at the trigger price.