1. What is Market order
Market order allows users to place an order at the best price in the current market, with the purpose of a fast transaction.Place a market order based on your desired quantity or amount; the final executed quantity and price will depend on the actual transaction result.
2. What is Limit order
Limit order means that the user sets the order amount and acceptable highest buying price or lowest selling price. When the market price meets expectations, the system will execute the transaction at the best price within the limit price range.
3.What is Trigger
When the market price reaches the trigger price, the system will automatically place an order according to the preset order price and amount.· The order will not pre-freeze the position or margin.
4.Take profit / Stop loss:
Users can set Take profit or Stop loss for the position to be opened in advance when placing a limit order or market order. When the limit order is completely executed, the system will immediately place a Take profit / Stop loss order at the preset trigger price and order price.
5.What is take profit / stop loss?
A: Take profit refers to a common contract trading operation when users believe the profit generated when the price rises/falls to a certain position and can be closed in time. Users’ unrealized profit can be converted into realized profit;
Stop loss refers to a common contract trading operation when users believe that the loss occurs when the price rises/falls to a certain position; so users need to close in time to avoid greater losses.
Bitget functions as Take Profit / Stop Loss: users can set the take profit or stop loss price in advance. When the latest market transaction price reaches the price, the order will be (closed) placed in the form of the optimal transaction price and the number of contracts that you set for this position before.
Q: Can take profit / stop loss only be used to close positions?
A: Yes. You can use Trigger to open positions.
Q: Is the stop profit and stop loss based on the position?
A: Yes, take profit / stop loss is based on your current position. You cannot set the order when you have no positions. You can set the order quantity according to the levelable quantity in the position.
That is to say, if you have 500 positions, the maximum number of take profit / stop loss is 500. If you take 100 for limit order before setting take profit / stop loss, the number that can be closed is 400 and the maximum take profit / stop loss for this position is 400.
When the levelable amount to close in your position is 0, you cannot set a stop loss or take profit.
Q: How to cancel take profit / stop loss?
A: In your current plan list, take profit / stop loss orders will be displayed on a separate label so that you can cancel them manually. Take profit / stop loss would be canceled too if you voluntarily liquidate all positions.
Q: Will I fail to stop taking profit / stopping loss?
If the market fluctuates violently, when the take profit / stop loss is triggered, the actual transaction price may differ from the price at that moment. Take profit / stop loss orders may not be executed or not fully executed.