Types of Trading Orders
There are 2 main orders of trading as per below:
1. Standard orders: There are 3 orders of standard orders as follows:
2. Advanced orders There are 3 orders of advanced orders as follows:
2.1 Stop Limit Order
2.2 Trailing Stop Market
2.3 Trailing Stop Limit
1.Standard order types
1.1. Market Order
- A Market Order is an order to buy or sell at the current market price, where the investor wants to buy or sell immediately. The system will display the best available price at that moment. For this type of order, the investor only specifies the number of assets they would like to buy or sell.
- In a Market Order, the system automatically matches the best available buy/sell prices displayed in the Order book, following the current price levels. Therefore, if there are no opposite buy/sell orders waiting to be matched, the Market Order will be canceled or cannot be placed. However, if there are opposite buy/sell orders waiting, the Market Order will be matched immediately once it enters the system.
- If the quantity of assets specified by the investor for buying or selling cannot be fully matched, the system will automatically cancel the remaining unexecuted quantity.
(Example – Market Order – Buy /Sell)
1.2 Limit Order
A Limit Order is a buy or sell order where the investor specifies the minimum price for buying or the maximum price for selling, as well as the number of tokens they wish to buy or sell.
- Limit Buy Order: The system will buy assets at a price equal to or lower than the price specified by the investor, until the specified quantity of tokens is fulfilled.
- Limit Sell Order: The system will sell assets at a price equal to or higher than the price specified by the investor, until the specified quantity of tokens is fulfilled.
- Limit Orders process: The Limit Order will remain active until it is fully matched with a corresponding buy or sell order or until the investor cancels the order.
Note: In cases of system maintenance or other circumstances, Limit Orders may be canceled by the company.
(Example – Limit Order – Buy / sell )
In case of duplicate lower orders: A notification will display on the screen, as shown in the image below. You can still proceed with the order. If you would like to continue with the transaction, you can select Confirm Order to complete the order submission.
1.3 Stop Order
A Stop Order is an advance buy/sell order which will be sent as a market order. This order, investors can specify a particular price to limit their losses or protect their profits.
When the market price adjusts to the specified price, the Stop Order will be automatically triggered and submitted into the buy/sell market. If there is no order to match, the buy/sell order will be automatically canceled, and any remaining assets will also be canceled.
(Example – Stop Order – Buy)
Example - Stop Market Order – Buy
The specified stop price (Stop price) will be higher than the current market price to limit losses or protect profits.
For example, the investor submits the following order:
- Buy amount: 50 tokens (Order size)
- Stop price: 16.00 THB (the specified price)
- Market price: 15.00 THB (Bid price)
When the market price (Bid price) rises and reaches 16.00 THB (the specified price), the system will automatically submit a Market Order - Buy into the market. This order will be placed in the Order Book at the market price as specified. If the number of tokens to be bought at the Market Order price cannot be fully matched, the remaining assets will be automatically canceled by the system.
(Example– Stop Order – Sell)
Example - Stop Market Order – Sell
The specified stop price (Stop price) will be lower than the current market price to limit losses or protect profits.
For example, the investor submits the following order:
- Buy amount: 50 tokens (Order size)
- Stop price: 15.00 THB (the specified price)
- Market price: 16.00 THB (Ask price)
When the market price (Ask price) drops and reaches 15.00 THB (the specified price), the system will automatically submit a “Market Order – Sell” into the market. This order will be placed in the Order Book at the market price as specified. If the amount of assets to be sold at the Market Order price cannot be fully matched, the remaining assets will be automatically canceled by the system.
2.Advanced Order Types
2.1 Stop Limit Order
A Stop Limit Order is a type of advanced order where the investor sets a specific price at which the order will be converted into a limit order once the market price reaches a predetermined level (the stop price). This type of order provides control over the execution price of the trade.
Note: If the Ask Price of the digital asset you choose is displayed as 0, a purchase order for that asset cannot be placed.
Example – Stop Limit – Buy
When sending a Stop Limit Order – Buy, the stop price (the designated trigger price) will be higher than the current market price in order to limit losses or protect profits.
Investor places an order as follows:
- Order size: 50 tokens
- Stop price: 16.00 THB (trigger price)
- Limit price: 17.00 THB
- Market price: 15.00 THB
Once the market price rises to the stop price of 16.00 THB, the system will immediately send a Limit Order – Buy into the trading system. This order will be placed in the Order Book at the limit price of 17.00 THB. The system will match the buy order at the 17.00 THB price or lower, until the total order size is fulfilled.
Example – Stop Limit – Sell
When sending a Stop Limit Order – Sell, the stop price (the designated trigger price) will be lower than the current market price in order to limit losses or protect profits.
Investor places an order as follows:
- Order size: 50 tokens
- Stop price: 14.00 THB (trigger price)
- Limit price: 13.00 THB
- Market price: 15.00 THB
Once the market price drops to the stop price of 14.00 THB, the system will immediately send a Limit Order – Sell into the trading system. This order will be placed in the Order Book at the limit price of 13.00 THB. The system will match the sell order at the 13.00 THB price or higher, until the total order size is fulfilled.
2.2 Trailing Stop Market
Trailing Stop Market is a type of order set up to protect profits when the price of an asset moves in a favorable direction. It sets a price differential from the current market price. When the price adjusts and reaches the specified price differential (Trigger Price), the system will automatically send the order. This order is suitable for continuing to profit as long as the price moves in a profitable direction.
(Example – Trailing Stop Market Order – Buy
When placing a Trailing Stop market order – Buy, the price differential (Trigger price) will be set higher than the current price to limit losses or protect profits.
The investor places the following order:
- Order size: 20 tokens
- Trailing amount: 2.00 THB (Trigger price will be the current price + Trailing amount = 12.00 + 2.00 = 14.00 THB)
When the market price increases and reaches 14.00 THB (Trigger price), the system will automatically place a Market Order – Buy into the trading system. This order will appear in the Order Book at the market price as required. If the quantity of assets being bought at the Market Order price cannot be fully matched, the system will automatically cancel the remaining quantity.
(Example – Trailing Stop Market Order – Sell)
When placing a Trailing Stop market order – Sell, the Trigger price will be set lower than the current price to limit losses or protect profits.
The investor places the following order:
- Order size: 50 tokens
- Trailing amount: 2.00 THB (Trigger price will be the current price – Trailing amount = 19.00 – 2.00 = 17.00 THB)
When the market price decreases and reaches 17.00 THB (Trigger price), the system will automatically place a Market Order – Sell into the trading system. This order will appear in the Order Book at the market price as required. If the quantity of assets being sold at the Market Order price cannot be fully matched, the system will automatically cancel the remaining quantity.
2.3 Trailing Stop Limit
The conditions of this order involve setting a pending buy/sell order, where the Trailing Stop Limit will automatically send a Limit order into the system when the price reverses and reaches the specified price differential (Trigger Price).
(Example – Trailing Stop Limit – Buy)
Placing a Trailing Stop Limit order – Buy, the Trigger price will be higher than the current price to limit losses or protect profits.
The investor places the following order:
- Order size: 50 tokens
- Trailing amount: 2.00 THB (Trigger price will be the current price + Trailing amount = 12.00 + 2.00 = 14.00 THB)
- Limit offset: 1.00 THB (Limit price will be Trigger price + Limit offset = 14.00 + 1.00 = 15.00 THB)
When the market price increases and reaches 14.00 THB (Trigger price), the system will automatically place a Limit Order – Buy into the trading system. This order will appear in the Order Book at the price of 15.00 THB (Limit Price). The system will match this buy order at the price of 15.00 THB or lower until the complete order size is matched.
(Example – Trailing Stop Limit – Sell)
Placing a Trailing Stop Limit order – Sell, the Trigger price will be lower than the current price to limit losses or protect profits.
The investor places the following order:
- Order size: 50 tokens
- Trailing amount: 2.00 THB (Trigger price will be the current price – Trailing amount = 19.00 – 2.00 = 17.00 THB)
- Limit offset: 1.00 THB (Limit price will be Trigger price – Limit offset = 17.00 – 1.00 = 16.00 THB)
When the market price decreases and reaches 17.00 THB (Trigger price), the system will automatically place a Limit Order – Sell into the trading system. This order will appear in the Order Book at the price of 16.00 THB (Limit Price). The system will match this sell order at the price of 16.00 THB or higher until the complete order size is matched.