Order Types

Surge supports the following order types:

• Market

• Limit

• Stop Limit

Some order types are also discussed here.

All entry levels on trades are adjusted to include fees.

Market Order

A market order means that you will enter a long (buy) or short (sell) position at the next oracle price once a keeper processes your order.

Limit Order

A limit order has an associated price level. Once the oracle price breaches the limit order level, the keeper will process your long / short order.

Limit orders are typically used to enter trades at better levels than the current prevailing market rate. In this sense they are a bit like a mean-reverting trade.

Example limit orders where BTCUSD is currently 70,000.

• Place a long (buy) order with a limit price at 65,000 (below the current market price)

• Place a short (sell) order with a limit price at 75,000 (above the current market price)

However, it's possible that the price never breaches the limit order level and the trade is not filled.

Stop Limit Order

Stop limit orders also have an associated price level but the direction of trade entry is different. They are used to enter a long (short) once the price has risen (fallen) to a certain level. In this sense they are a bit like following a trend in price.

Example stop limit orders where BTCUSD is currently 70,000.

• Place a long (buy) order with a limit price at 72,000 (above the current market price)

• Place a short (sell) order with a limit price at 68,000 (below the current market price)

Take Profit / Stop Loss

As described here, Take Profits and Stop Losses can be added to order types.