Detailed description of the steps to place an order on OYi Contract

To successfully place orders on OYi Contract, traders should understand the various order types (limit, market, stop-limit, stop-loss) and carefully set the order parameters such as price, quantity, and trigger points to align with their execution strategy.

Jan 27, 2025 at 11:18 am

Trading Cryptocurrency: A Comprehensive Guide to Placing Orders on OYi Contract

Key Points

• Understanding the different types of orders
• Placing limit, market, stop-limit, and stop-loss orders
• Managing open orders and executing real-time trades

Step-by-Step Guide to Placing Orders on OYi Contract

1. Identifying the Trading Pair and Order Type

• Select the desired trading pair from the available options.
• Choose the appropriate order type based on the desired execution strategy (limit, market, stop-limit, or stop-loss).

2. Setting the Order Parameters

• For limit orders: Specify the desired price, quantity, and order side (buy/sell).
• For market orders: Enter the quantity and order side. Market orders are executed at the prevailing market price.
• For stop-limit orders: Set the trigger price (which activates the order), limit price (desired execution price), quantity, and order side.
• For stop-loss orders: Set the trigger price (where the order is activated), quantity, and order side. Stop-loss orders are used to limit potential losses.

3. Confirming and Submitting the Order

• Review the order details carefully, including the price, quantity, and order type.
• Click the "Place Order" button to submit the order.
• The order will be sent to the OYi Contract server for execution.

4. Monitoring and Managing Open Orders

• The "Open Orders" section provides an overview of all pending orders.
• Track the order status, modify the parameters, or cancel the order if necessary.

5. Executing and Finalizing the Trade

• When the order conditions are met (e.g., trigger price reached, limit price hit), the order will execute.
• The trade details will be displayed in the "Order History" section.
• Finalize the trade by withdrawing the assets from the exchange.

FAQs

What is OYi Contract?

OYi Contract is a multi-asset cryptocurrency trading platform offering futures contracts trading with leverage.

What are the available trading pairs on OYi Contract?

OYi Contract supports a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Polkadot (DOT), and others.

Which order types are supported by OYi Contract?

OYi Contract supports four types of orders: limit orders, market orders, stop-limit orders, and stop-loss orders.

How do I calculate the profit or loss on my trades?

Profit or loss is determined by multiplying the price difference between the entry and exit points by the trade size.

What are the fees associated with trading on OYi Contract?

OYi Contract charges a trading fee and a funding fee for holding futures contracts overnight.