Below you can find the different order types:
Note: The only types of orders Coinigy supports right now are Limits and Stop Limits (On Premium Accounts only and up to 25 at any point). We don't offer any form of automatic trading. Adding more advanced orders are on the way however in regards to order types such as stop loss and take profit once we officially launch V2 of Coinigy.
- Coinigy Stop Limit - Stop Limits placed on Coinigy are not sent to the exchange until the trigger price is met. Traders use Coinigy Stop Limits to avoid being outbid by automated trading bots as their order does not show up on the exchange until triggered. It also allows traders to place an order without having the funds available at the time of placement.
- Market - An order (whether buy or sell) to be executed immediately at the current market price for that asset until it is filled in its entirety. Market orders means execution is guaranteed while the price a traders gets for the order is not guaranteed.
- Stop Price - Used in a number of conditional order types, a stop price is a predetermined market price that once reached triggers orders to be placed.
- Stop Loss - A two-part order where a previously designated price (the stop price) must be reached in the market. In return, a market order is triggered and placed at a price specified by the trader.
- e.g. Sell 2.5 BTC @ $10,000 if the market price passes $10,005.
- Trailing Stop Loss - An order type where the stop loss is at a fixed amount below the given price. The stop price follows the market price up, but once the price begins to decline, the stop stays in place in case the market value sinks far enough to trigger it.
- Take Profit - An order that is closed once the position reaches a certain level/amount of profit.
- Limit - An order (whether buy or sell) to be executed at a specific market price. A limit order is essentially the opposite of a market order; price is not guaranteed. Your order could execute at a better price.
- Stop Limit - Much like a stop loss, a stop limit is a two-part order that involves a stop price and order price. Once the stop price is reached in the market, a limit order is automatically placed at a designated price by a trader.
- OCO - OCO stands for ‘One-cancels-the-other’ order. This order type involves two accompanying orders (usually a stop and a limit order) where once one of the two executes, the one that did not execute is automatically closed.
- Iceberg - An order for a large amount but split up into smaller, predetermined quantities. In the orderbook, the order will appear as this smaller quantity (the tip of the iceberg) and once that is executed, another order of that smaller quantity is placed. This repeats until the entire order is fulfilled.
- Fill or Kill - An order placed with the instructions to execute if the orderbook has the sufficient liquidity for it or immediately cancel the order if not.