Currently, HPX supports three types of futures orders: Limit Orders, Market Orders, and Triggered Orders.
1. Limit Orders
A limit order allows traders to set the specific minimum or maximum price at which they want to buy or sell.
Description: Limit orders follow the logic of buying low and selling high. If the specified price results in a situation where the buy price is higher or the sell price is lower than the market price, the order will be executed at the market price.
2. Market Orders
A market order executes the trade at the best available price in the market.
Description: Market orders are filled immediately at the current market price, ensuring quick execution but with no control over the exact price.
3. Triggered Orders
Triggered orders are triggered only when specific conditions are met. Traders need to set a trigger price that activates the order.
Description:
Triggered Limit Orders: The limit order is only placed in the order book when the trigger price is reached.
Triggered Market Orders: The market order is executed at the best available price once the trigger price is reached.
Note: Triggered orders do not require margin when placed. If there is insufficient margin in the account when the order is triggered, the order will fail and be automatically cancelled.