Contract Trading Order Types

Deepcoin contract trading orders are divided into three types:

1.Market Order:
A market order involves immediate matching with the opposite party's order at the current market price until the entire order is fulfilled, facilitating quick buying or selling. It's important to note that:

Each market order may have different quantity limitations for different contracts (these limitations may be adjusted according to market conditions).
For example, if the current BTC latest transaction price is 66,000 USDT and a user wishes to quickly buy BTC at market price, they can choose a market order, specify the purchase quantity, and place the order. This order will be immediately executed (though extreme market conditions may delay execution), with an average execution price around 66,000 USDT.

2.Limit Order:
With a limit order, users specify the price and quantity of their order. The limit order sets the maximum price a user is willing to buy or the minimum price they are willing to sell. The system matches trades based on price priority and time priority. If a user's buy price is higher or sell price is lower than the market price, the market will prioritize execution at a price favorable to the user. Both opening and closing positions can utilize limit orders. There are two mechanisms for limit orders:

Post Only: By default, "Post Only" ensures the order does not immediately execute in the market, guaranteeing the user always acts as a maker. If the order would immediately execute against existing orders in the market, it will be canceled.
Immediate or Cancel (IOC): If the user specifies "Immediate or Cancel" for the order quantity, any portion of the order not immediately executed will be canceled.
Conditional (Plan) Order:
A conditional order involves pre-setting trigger conditions along with order price and quantity. When the market's latest transaction price reaches the trigger condition, the system will place an order based on the pre-set price and quantity.
Parameters include:

Trigger Price: When the latest transaction price reaches the trigger price set by the user, it triggers the order placement.
Quantity: The order quantity after the planned order is triggered.

Notes:

1)Only contract varieties in the trading state can receive conditional orders.
2)The order quantity must comply with the corresponding contract's planned order quantity limitations.
Before the conditional order triggers, it does not freeze the user's margin assets or positions. Freezing occurs only when the conditional order triggers and opens or closes orders according to the pre-set price and quantity.
3)When a closing conditional order triggers and the available position is less than the order quantity, the system will place the order according to the actual available position. In volatile market conditions, when prices sharply rise or fall, conditional orders may fail to trigger or fail to execute after triggering.
Conditional orders may not necessarily trigger successfully due to price restrictions, order quantity limitations, position limitations, insufficient margin assets, contract varieties not in the trading state, network issues, system problems, etc.
4)When a conditional order triggers, it will be placed according to the pre-set order price. However, if the order price at placement exceeds the limit price at that time (buy price higher than the highest buy price, or sell price lower than the lowest sell price), the order will fail to execute.
5)For successfully triggered limit orders, they behave similarly to regular limit orders, being placed according to the user's pre-set order price and not necessarily executing. The execution depends entirely on the prevailing market conditions at that time.