Key Words: Market Orders, Trigger Order, TP/SL Setting
1. Market Order
What is a market order?
In the Standard Futures, a market order is the order placed with "Estimated Execution Price = Current Price * (1 ± Spread)". The characteristics of market orders are that they consume market depth and are filled immediately.
Market Order - TP/SL Calculations
① Set TP/SL by Price
Estimated P/L = Opening Margin * Opening Leverage * Order Direction * [ (Closing Price - Estimated Execution Price)/Estimated Execution Price ]
② Set TP/SL by Ratio
Estimated TP/SL Price = TP/ SL Ratio * Estimated Execution Price / (Order Direction * Opening Leverage) + Estimated Execution Price
(Special Note: For SL settings, users enter a positive number for the ratio and the system automatically change it to the corresponding negative number for calculation.)
Estimated P/L = Opening Margin * Opening Leverage * Order Direction * [ (Estimated TP/SL Price - Estimated Execution Price)/Estimated Execution Price ]
2. Trigger Order
What is a trigger order?
"Trigger Order" is not " Limit Order". It is an automatic order tool, with which you can pre-set an order that will only be triggered under specific conditions. Once the latest traded price has reached the "trigger", the pre-set order will be executed. Both an order placed by means of “Trigger” and another placed by means of “Market” at the same moment belong to Market Orders.
Special note: The maximum number of trigger orders that users can set per day is 200.
Reasons Why Trigger Orders Fail:
- Trigger orders do not freeze the order principal, so after reaching the pre-set price, if your account balance is insufficient, the order will fail and the system will cancel the trigger order.
- When the market price changes too much (such as the index closing at a low price or opening at a high price), if the difference between the market price and the pre-set price is greater than 1.5%, the trigger order will fail and the system will cancel the order.
Trigger Order - TP/SL Calculations
Pre-set Trigger Price= Opening Price * (1± Spread)
① Set TP/SL by Price
Estimated P/L = Opening Margin * Opening Leverage * Order Direction * [ (Closing Price - Pre-set Trigger Price)/Pre-set Trigger Price ]
② Set TP/SL by Ratio
Estimated TP/SL Price = TP/ SL Ratio * Pre-set Trigger Price / (Order Direction * Opening Leverage) + Pre-set Trigger Price
(Special Note: For SL settings, though users enter a positive number for the ratio, users need to change it as the corresponding negative number for calculation.)
Estimated P/L = Opening Margin * Opening Leverage * Order Direction * [ (Estimated TP/SL Price - Pre-set Trigger Price)/Pre-set Trigger Price ]
3. Open Positions
What is an open position?
An open position is any established or entered trade that has yet to close/settle with an opposing trade. The profit and loss of the unsettled position is often referred to as “Floating P/L”.
Open Position - TP/SL Calculations
① Set TP/SL by Price
Estimated P/L = Trade Size * Order Direction * [ (Closing Price - Opening Price)/ Opening Price ]
② Set TP/SL by Ratio
Estimated TP/SL Price = TP/ SL Ratio * Opening Price * Margin / (Order Direction * Trade Size) + Opening Price
(Special Note: For SL settings, though users enter a positive number for the ratio, users need to change it as the corresponding negative number for calculation.)
Estimated P/L = Trade Size * Order Direction * [ (Estimated TP/SL Price - Opening Price)/Opening Price ]
Please Note:
The platform always strives to offer the best price for orders' TP/SL settings within the liquidity allowed. However, the system does not guarantee to take profit/stop loss at the exact price set by users.