What are the specific operations for placing entrusted orders on OYi Contract?

By utilizing entrusted orders on OYi Contract, traders can automate their trading strategies, capitalize on market volatility, and eliminate the need for constant market monitoring.

Jan 30, 2025 at 06:54 am

Key Points of Placing Entrusted Orders on OYi Contract

1. Understanding Entrusted Orders
2. Types of Entrusted Orders
3. Placing Buy and Sell Entrusted Orders
4. Order Placement Interface Guide
5. Order Management and Cancellation

Step 1: Understanding Entrusted Orders

Entrusted orders are instructions to buy or sell a certain amount of a cryptocurrency at a specified price or better. They are used to automate trading strategies and to take advantage of market fluctuations. By placing entrusted orders, traders can avoid the need to constantly monitor the market and manually enter orders.

Step 2: Types of Entrusted Orders

There are two main types of entrusted orders:

1. Limit Orders: These orders are placed at a specific price or better. They will only be executed if the market price reaches or exceeds the specified price.
2. Market Orders: These orders are executed immediately at the best available market price. They do not specify a specific price and are therefore filled at whatever price is currently available.

Step 3: Placing Buy and Sell Entrusted Orders

To place a buy entrusted order, follow these steps:

1. Select the 'Buy' option in the order placement interface.
2. Enter the desired quantity of the cryptocurrency you want to buy.
3. Enter the limit price or leave it blank for a market order.
4. Click the 'Buy' button to place the order.

To place a sell entrusted order, follow these steps:

1. Select the 'Sell' option in the order placement interface.
2. Enter the desired quantity of the cryptocurrency you want to sell.
3. Enter the limit price or leave it blank for a market order.
4. Click the 'Sell' button to place the order.

Step 4: Order Placement Interface Guide

The order placement interface on OYi Contract includes the following fields:

1. Pair: The cryptocurrency pair you want to trade.
2. Order Type: Choose between 'Limit' and 'Market' orders.
3. Side: Select 'Buy' or 'Sell' to specify the type of order you want to place.
4. Price: Enter the limit price for limit orders.
5. Amount: Enter the amount of cryptocurrency you want to buy or sell.
6. Filled: Indicates the portion of the order that has been filled.
7. Total: The total amount of the order.

Step 5: Order Management and Cancellation

After placing an order, you can view and manage it in the 'Open Orders' section. You can cancel an order by clicking the 'Cancel' button. Filled orders will be moved to the 'Order History' section.

FAQs

1. What is the difference between buy and sell entrusted orders?

   • Buy entrusted orders are used to buy cryptocurrencies at a specified price or better, while sell entrusted orders are used to sell cryptocurrencies at a specified price or better.

2. What are the advantages of using entrusted orders?

   • Entrusted orders can be used to automate trading strategies, to take advantage of market fluctuations, and to avoid the need to constantly monitor the market.

3. How can I place a limit order?

   • To place a limit order, enter the desired price and quantity in the order placement interface and select the 'Limit' order type.

4. How can I cancel an order?

   • Orders can be cancelled by clicking the 'Cancel' button in the 'Open Orders' section.

5. Where can I view my order history?

   • Filled orders can be viewed in the 'Order History' section.