Chase Limit Order

A Chase Limit Order is a limit buy order placed at the current best bid price or a limit sell order placed at the current best ask price. If the system detects that your order deviates from the best price, it automatically updates your order price to continue chasing the best price until your order is fully filled, canceled, or reaches the maximum chase distance you have set.

1.Switch Order Type to 'Chasing Limit Price'

The default chasing price is 'Chase Bid1/Ask1', with the estimated order price displayed below the option.

Chase Bid1 Price: After the strategy runs, the system will place an order at the Bid1 price. It will check every second to ensure your order remains at the top level of the order book. If it does not, the system will adjust the order price until the order is fully filled, canceled, or the stop chase price is reached.

2.Distance from Bid1/Ask1

Distance from Bid1 Price: After the strategy runs, the system places an order at the Bid1 price minus a set fixed distance. Every second, the system checks if your order remains within the top level of the order book minus the set fixed distance. If it does not, the system adjusts your order price until the order is fully filled, canceled, or the stop chase price is reached.

You can manually switch the chasing price to 'Distance from Bid1/Ask1'. 

You can also click on the Order Book price, and the system will automatically calculate the distance between the clicked price and the Bid1/Ask1.

Illustration Explanation

3.Stop Chase Price

Distance from Bid1 Price: After the strategy runs, the system places an order at the Bid1 price minus a set fixed distance. Every second, the system checks if your order remains within the top level of the order book minus the set fixed distance. If it does not, the system adjusts your order price until the order is fully filled, canceled, or the stop chase price is reached.

Set the stop chase distance to calculate and display the estimated stop chase price.

Illustration