Biconomy Futures 5 types of order:
- Limit Order
- Market Order
- Stop-Limit Order
- Stop Market order
- TP/SL Order (Strategy Order)
What is a Limit Order?
Limit Orders allow you to place an order at a specific or even at a better price. A buy Limit Order will be filled if the price matches or is lower than your limit price and then a sell Limit Order will be filled at or higher than your limit price. Please note that a Limit Order is not guaranteed to execute.
What is a Market Order?
Market orders are matched immediately at the best available price at that given time.
Stop Limit Order
What is a Stop Limit order?
A Stop Limit order is a conditional order over a set timeframe, executed at a specified price after a given stop price has been reached. Once the stop price is reached, you are avlble to buy, sell or trade at the limit price or at a price that is better than the limit price you set.
Stop Market Order
What is a Stop Market Order?
Similar to a Stop Limit Order, a Stop Market Order uses a stop price to trigger the trade. However, when the stop price is reached, it triggers a market order instead.
TP / SL Order (Strategy Order)
What is a Limit TP/SL Order?
You can set a take profit or stop loss price before opening a position. It will follow the "Last Price" and or "Mark Price" that triggers your take profit and stop loss orders.
Biconomy supports a two direction position.
The two-direction position pattern allows for both long and short positions in a single contract and hedges the risk of positions in different directions under the same contract.