Market Buy/Long | Limit Sell/Short (Opening a position)
Last updated
Last updated
Next, we'll showcase the screen that appears when you choose either a market buy/long order or a limit sell/short order – The process is the same for the opposite actions as well.
When the screen appears, carefully review your order details and, at the bottom, set your slippage tolerance. Take note of the potential price impact your order might have – Remember, our platform does not operate under a traditional order book model.
Slippage Tolerance: Refers to price changes caused by external market movements. By choosing the tolerance, you determine the acceptable amount of slippage for your order to be filled.
Price Impact: Represents the effect of your trade on the market. On our platform, we offer information about how much your position is likely to impact the broader market. This allows you to evaluete whether it makes sense for you to enter the trade or not.
