What is the process for placing orders on Ouyi Contract?

Key Points of Ouyi Contract Order Placement Process

• Introduction to Ouyi Contract Order Types
• Step-by-Step Guide to Placing a Limit Order
• Understanding Market Orders and How to Place Them
• Advanced Order Types: Stop-Limit and Stop-Market
• Managing and Adjusting Open Positions

Ouyi Contract Order Types

Ouyi Contract offers a range of order types to accommodate different trading strategies:

• Limit Order: Sets a specific price at which the trader wants to buy or sell a contract, ensuring the execution only at that price or better.
• Market Order: Executes immediately at the current market price, providing quick entry or exit from positions.
• Stop-Limit Order: Combines a stop price (which triggers the order) with a limit price (which determines the execution price), offering control over both trade timing and execution price.
• Stop-Market Order: Similar to a stop-limit order but executes at the current market price once triggered, providing quick trade execution without price control.

Step-by-Step Guide to Placing a Limit Order

1. Select the Contract: Choose the desired contract by filtering for underlying asset, expiry date, and leverage.
2. Choose "Limit" Order: On the order entry screen, select the "Limit" order type.
3. Set Order Parameters: Specify the desired quantity, limit price, and stop price (if applicable).
4. Review Order Details: Confirm all order parameters, including trading fees, before submission.
5. Place Order: Click on "Buy/Long" or "Sell/Short" to place the order and enter the market.

Understanding Market Orders and How to Place Them

1. Immediate Execution: Market orders are executed immediately at the current best market price.
2. Quantity and Direction: Specify the desired quantity and choose "Buy/Long" or "Sell/Short" to enter the market.
3. Execution Price: The execution price of a market order will vary slightly from the displayed price due to market fluctuations.

Advanced Order Types: Stop-Limit and Stop-Market

1. Stop-Limit Order:
   • Trigger Price: Sets the price at which the order becomes a limit order waiting to be executed at the limit price.
   • Limit Price: Specifies the execution price for the order once triggered.
2. Stop-Market Order:
   • Trigger Price: Sets the price at which the order becomes a market order, which is then executed at the current market price.
   • Immediate Execution: Unlike stop-limit orders, stop-market orders execute immediately at the market price after being triggered.

Managing and Adjusting Open Positions

1. Viewing Open Positions: All active positions can be accessed through the "Positions" tab.
2. Closing Positions: Positions can be closed by submitting an opposite order with the same quantity.
3. Trailing Stop Orders: Traders can implement a trailing stop order to automatically adjust the stop price of their open positions as the market moves in their favor, ensuring profits.

FAQs

• What is the difference between a limit order and a market order?
  • Limit orders execute at a specific price or better, while market orders execute immediately at the current market price.
• How do I set a stop-limit order?
  • Select the "Stop-Limit" order type, specify the stop price (trigger), and set the limit price (execution price).
• What is the advantage of using a trailing stop order?
  • Trailing stop orders automatically adjust the stop price to lock in profits as the market moves favorably.
• How can I view my open positions?
  • Active positions can be found under the "Positions" tab in the Ouyi Contract interface.
• How do I manage risk when trading contracts?
  • Use stop-loss orders, manage leverage carefully, and allocate funds strategically.