Order Types
Last updated
Horizon Futures empowers traders with different order types to maximize the trading experience. While market orders are the most straightforward option to instantly open a position, limit and stop allow users to select a price parameter to trigger a new position. In addition to these three available options to open a position, users can set take-profit and stop-loss orders that will close the position when certain price parameters are met.
Long positions will be in profit when the market price is higher than the entry price, and will be at loss when the market price is lower than the entry price. Both profit and loss remain unrealized until the position is manually closed by the user or triggered by stop-loss, take-profit orders, or liquidation.
Short positions will be in profit when the market price is lower than the entry price, and will be at loss when the market price is higher than the entry price. Both profit and loss remain unrealized until the position is manually closed by the user or triggered by stop-loss, take-profit orders, or liquidation.
A market order will be instantly opened at the market price of the asset, which is provided by the oracle at the moment of the creation of the order.
A limit order will open a position when the market price of the asset meets a customizable condition. Users must enter the Limit Price that will be used as reference to trigger the order.
For Long Limit orders, the market price must be equal or lower to the preset price in order to trigger the Limit order and open the position.
For Short Limit orders, the market price must be equal or higher than the preset price to trigger the Limit order and open the position.
Similar to Limit, Stop orders will open a position when the market price of the asset meets a certain customizable condition. Users must enter the Stop Trigger Price that will be used as reference to trigger the order.
For Longs Stop orders, the market price must be equal or higher to the preset price in order to trigger the Stop order and open the position.
For Short Stop orders, the market price must be equal or higher than the preset price to trigger the Stop order and open the position.
To start trading visit Horizon Protocol App or continue exploring the Academy to learning more about how Futures work.
