Limit Orders

The Limit Orders tab helps you manage any pending orders to long or short an asset at a specific price or better. Below is a detailed explanation of how to use it, with just one comprehensive image placeholder.

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Step 1: Locate the Limit Orders Tab

• Scroll down on the trading page and click on the Limit Orders tab.

• It is located next to Open Positions, Closed Positions, and Trade History.

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Step 2: Columns and What They Mean

1. Date:

   • Shows when the limit order was placed.

   • Example: 01-12-2024 14:49 for a SOL/USDT sell order.

2. Contract:

   • Displays the trading pair, such as SOL/USDT or BNB/USDT.

   • This helps identify which asset pair the order applies to.

3. Side:

   • Indicates the trade direction:

     • Buy: Placing a bid to Long the asset at a set price.

     • Sell: Offering to Short the asset at a specific price.

   • Example: Buy (green) for BNB and Sell (red) for SOL.

4. Price:

   • The target price for the order.

   • For a Buy, this is the maximum price you’re willing to pay.

   • For a Sell, this is the minimum price you’re willing to accept.

5. Quantity:

   • Represents the number of units in the pending trade.

   • Example: 41.6666 SOL for a Short order or 15.625 BNB for a Long order.

6. Filled/Total:

   • Tracks how much of the order has been executed:

     • Filled: Amount already matched with the market.

     • Total: The full size of the order.

   • Example: 0/41.6666 indicates none of the SOL has been Shorted yet.

7. TP/SL:

   • Displays if Take Profit (TP) or Stop Loss (SL) is set for the order:

     • -/-. means no TP/SL is assigned.

   • How to Add/Edit TP/SL:

     • Click the pencil/edit icon in this column.

     • Define your desired TP/SL levels to automate risk management.

8. Action:

   • Cancel Order: Click the "X" button to remove the order.

   • Useful for freeing up margin if market conditions change.

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Step 3: Manage Your Limit Orders

1. Monitor Your Orders:

   • Regularly check the Filled/Total column to see progress.

   • Example: If the market price nears 240 USDT, your SOL/USDT sell order will start filling.

2. Cancel Orders:

   • Use the Cancel button (in the Action column) to remove orders that are no longer valid based on market changes.

3. Add/Update TP/SL:

   • Use the pencil icon in the TP/SL column to define or modify your desired take profit and stop loss levels.