How to Place Orders on Kyrrex
To place an order on Kyrrex, go to Trade. You can place an immediate (Market) order or a pending (Limit) order.
To view the Order Entry panel, select Terminal > Order entry.
This panel contains the following entries:
- Symbol: The ticker for the cryptocurrency trading pair. The Ethereum and Bitcoin pair is ETH/BTC.
- Side: The direction of trade. This is either Buy or Sell.
- Quantity: The amount of the coin to be traded. You can select a preset value from the dropdown list here or simply type the precise quantity yourself.
- Order type: Defines the type of order: Market, Limit, Stop, Trailing stop, or OCO, etc.
- Market order. An order to buy or sell the cryptocurrency at the current market price.
- Limit order. An order to buy or sell the cryptocurrency when the market price reaches the limit price specified in the order.
- Stop limit order. An order to buy or sell the cryptocurrency at the specified limit price when the market price reaches the stop price.
- The Stop price is the price at which the limit order is triggered. This price should be higher than the limit price for buy orders and lower than the limit price for sell orders.
- OCO (One-Cancels-the-Other): An order that combines a limit order with a stop order. When one order is triggered, the other is canceled.
- Trailing stop order. A stop order that follows the market price at a certain distance (the trailing offset). The stop price keeps moving in the same direction as the market price but stops when the market price changes direction. A market order is submitted when the stop price is "hit".
This option gives traders more control over the lifespan of an order before it expires.
This option specifies that the order, once placed, is valid during the current trading day.
GTC (Good Till Canceled)
Specifies that the order will remain active until executed by the market, canceled by the trader.
GTD (Good Till Date)
Specifies that the order, once placed, is valid until a given date.
FOK (Fill or Kill)
Specifies that all parts of the order must be immediately filled at the specified price or the entire order must be canceled.
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