Standard Order Types
1. Market order
This is an order method that buys or sells for the best price obtainable at that moment. The customer inputs only the number of tokens they wish to buy or sell.
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This is an order method that sends the buy order for the lowest price, or sell order for the highest price respectively. Therefore, if there is no available order waiting to match on the opposite side of your Market order, the order will be cancelled or cannot be placed. But if there is a buy or sell order waiting to match on the opposite side or your Market order, your order will be immediately matched.
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If there is insufficient trading volume and the order was partially matched, the remaining unmatched order will be cancelled by the system.
2. Limit order
This is an order method in which the buyer specifies the minimum price to sell or the maximum price to buy and the amount of tokens to buy or sell.
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Limit orders are orders with conditions set to buy if the price falls to or below a specified point or to sell if the price rises to or surpasses a specified point.
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There are instances in which only part of a limit order is executed; in these cases, the remaining order will remain active until executed or until cancelled by the user.
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In certain circumstances, including scheduled maintenance, limit orders may be cancelled by ERX.
3. Stop Market order
With this order, investors can limit their losses or protect their benefits by specifying a price point to buy or sell. Stop orders can be separated into 2 types:
3.1 Stop Market Order creates a market order as soon as the asset price reached the Stop price point.
Example 1
Stop Market Order – Buy
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Stop market order – Buy at a Stop price point that is higher than the current market price to minimize loss or protect profit.
Investor sends buy order as:
Order size: 50 tokens
Stop price: 16.00 baht (specified point)
Market price: 15.00 baht
When the market price reaches 16.00 baht (specified point), the system will create a market order – buy immediately. This order will be in the order book at market price according to the order placed. If there is insufficient trading volume and the order was partially matched, the remaining unmatched order will be cancelled by the system.
Example 2
Stop Market Order – Sell
Stop market order – Sell at Stop price point that is lower than the market price to minimize loss or protect profit.
Investor sets sell order as:
Order size: 50tokens
Stop price: 15.00baht(specified point)
Market price: 16.00baht
When the market price reaches 15.00baht (specified point), the system will create a market order – sell immediately. This order will be in the order book at a market price according to the order placed. If there is insufficient trading volume and the order is partially matched, the remaining unmatched order will be cancelled by the system.
3.2 Stop Limit Order creates a Limit order as soon as the price reaches the Stop price point.
Example 3
Stop Limit Order – Buy
Stop limit order – Buy at a specified point (Stop price) that is higher than market price to minimize loss or protect profit.
Investor sends buy order as:
Order size: 50 Tokens
Stop price: 16.00 baht (specified point)
Limit price: 17.00 baht
Market price: 15.00 baht
When the market price reaches 16.00 baht (specified point), the system will create a Limit order - Buy immediately. This order will be in the order book at 17.00 baht (limit price). The system will match buys at 17.00 baht or lower until 50 tokens have been purchased.
Example 4
Stop Limit Order – Sell
Stop limit order – Sell at specified point (Stop price) that is lower than the market price to minimize loss or protect profit.
Investor sends sell order as:
Order size: 50 tokens
Stop price: 14.00 baht (specified point)
Limit price: 13.00 baht
Market price: 15.00 baht
When the price reaches 14.00 baht (specified point),the system will create a Limit order - Sell immediately. This order will be in the order book at 13.00 baht (limit price). The system will match sell at 13.00 baht or higher until 50 tokens have been sold.
4. Trailing Stop Order
This order will move the buying and selling point in relation to the real-time market price. When the price reaches the trigger price, the system will automatically create an order. This order method is suitable for making a profit continuously as long as the price moves, the order lets profits run. Trailing Stop Orders can be separated into 2 types:
4.1. Trailing Stop Market Order automatically creates a market order as soon as the price reaches the trigger price.
Example 5
Trailing Stop Market Order – Buy
Trailing Stop market order – The trigger price is set at a fixed amount above the market price to minimize loss or protect profit.
Investor sends buy order as:
Order size: 50 tokens
Trailing amount: 2.00 baht (Trigger price is the market price +Trailing amount = 12.00 + 2.00 = 14.00 baht)
When the market price reaches 14.00 baht (trigger price), the system will create a Market Order – Buy immediately. This order will be in the order book at market price according to the order placed. If there is insufficient trading volume and the order was partially matched, the remaining unmatched order will be cancelled by the system.
Example 6
Trailing Stop Market Order – Sell
Trailing Stop market order – The trigger price is set at a fixed amount below the market price to minimize loss or protect profit. .
Investor sends sell order as:
Order size :50 tokens
Trailing amount: 2.00baht (Trigger price is the market price – Trailing amount = 19.00 – 2.00 = 17.00baht)
When the market price reaches 17.00 baht (trigger price), the system will create a Market Order – sell immediately. This order will be in the order book at market price according to the order placed. If there is insufficient trading volume and the order was partially matched, the remaining unmatched order will be cancelled by the system.
4.2. Trailing Stop Limit Order automatically creates a Limit order when the price reaches the trigger price.
Example 7
Trailing Stop Limit Order – Buy
Trailing Stop limit order – Buy trigger price will be higher than market price to minimize loss or protect profit.
Investor sends buy order as:
Order size: 50 tokens
Trailing amount: 2.00 baht (Trigger price is the market price + Trailing amount = 12.00 + 2.00 = 14.00 baht)
Limit offset: 1.00 baht (Limit price Trigger price + Limit offset = 14.00 + 1.00 = 15.00 baht)
When the market price reaches 14.00 baht (trigger price), the system will send Limit Order – Buy into the system immediately. This order will be in order book at 15.00 baht (Limit price). The system will match buy orders at 15.00 baht or lower until 50 tokens are bought.
Example 8
Trailing Stop Limit Order – Sell
Trailing Stop limit order – Sell Trigger price will be lower than market price to minimize loss or protect profit.
Investor sends buy order as:
Order size: 50 tokens
Trailing amount: 2.00 baht (Trigger price is the market price – Trailing amount = 19.00 – 2.00 = 17.00 baht)
Limit offset: 1.00 baht (Limit price Trigger price – Limit offset = 17.00 – 1.00 = 16.00 baht)
When the market price reaches 17.00 baht (Trigger price), the system will create a Limit Order – Sell immediately. This order will be in the order book at 16.00 baht (limit price). The system will match sell orders at 16.00 baht or higher until 50 tokens are sold.
5. Fill or Kill Order (FOK) is an order that must execute the entire quantity immediately or cancel the entire order.
6. Immediate or Cancel is a market or limit order that is to be executed in whole or in part as soon as the order is received. Any residual balance is cancelled.