Market Order Description
ICOIN futures support Market Orders, allowing users to execute trades quickly at the best available market price without specifying a price. This feature is mainly used in scenarios where execution speed is critical.
Function Description
1. A market order is an order submitted without specifying a price. The system will match it immediately based on the best available bid/ask in the order book.
2. Market orders prioritize execution. Under normal market depth conditions, orders are usually fully filled within a very short time.
3. The main characteristic of a market order is fast execution. However, in highly volatile markets, price differences (slippage) may occur. This is normal. If you require strict control over execution price, it is recommended to use limit orders.
4. Market orders may exhibit abnormal execution behavior under the following conditions:
• Insufficient market liquidity
• Large orders impacting market depth
• Extreme market conditions (rapid rise/fall)
• Rapid changes in the order book within a short time
5. Applicable scenarios for market orders include but are not limited to:
• Quick entry or exit
• Risk control (stop loss/take profit)
• Responding to sudden market movements
6. After execution, users can check the average execution price, filled quantity, and fees in “Trade History”.
Example (ETH Futures)
Case 1: Breakout Long Entry
The user expects ETH to continue rising after breaking a key resistance level and wants to open a long position immediately.
Settings:
• Order Type: Market
• Direction: Buy to Open Long
The system will match at the best available ask price for fast execution.
Case 2: Emergency Close Position
The user holds a long position and needs to exit quickly due to a sharp price drop.
Settings:
• Order Type: Market
• Direction: Sell to Close Long
The system prioritizes execution to minimize potential losses.
Risk Reminder
• Market orders guarantee execution probability, not execution price
• Slippage may increase significantly in high volatility or low liquidity conditions
• Large orders are recommended to be split to reduce market impact
• Check order book depth and volume before placing orders
Limit Order Description
ICOIN futures support Limit Orders, allowing users to specify their desired execution price. Orders will only be executed when the market price meets the set conditions. This feature is suitable for price-sensitive trading strategies.
Function Description
1. A limit order allows users to specify a price. The order will only be executed when the market price reaches or is better than the set price.
2. Limit orders prioritize price over execution speed and do not guarantee execution.
3. Based on the relationship between the order price and market price:
Opening Long (Buy)
• If order price ≥ current market price:
The order will enter the matching queue immediately and is likely to be filled instantly (similar to a market order).
• If order price < current market price:
The order will be placed in the order book and wait until the price drops to the specified level.
Opening Short (Sell)
• If order price ≤ current market price:
The order will enter the matching queue immediately and is likely to be filled.
• If order price > current market price:
The order will be placed in the order book and wait until the price rises to the specified level.
4. If the market price does not reach the set price, the order will remain active until:
• Fully executed
• Manually canceled
• System cancellation due to special conditions
5. Applicable scenarios include:
• Waiting for pullbacks/rebounds
• Controlling entry price
• Grid or range trading strategies
6. Unfilled orders can be viewed in “Open Orders” and can be modified or canceled at any time.
Example (ETH Futures)
Case 1: Buy on Pullback
Current price: 3000
User wants to open long at 2800
Settings:
• Order Price: 2800
• Direction: Buy to Open Long
Since 2800 < market price, the order will be placed as a pending order.
Case 2: Immediate Long Entry
Current price: 3000
Order price: 3005
Since 3005 ≥ market price, the order may be filled immediately.
Case 3: Sell on Rebound
Current price: 3000
User wants to short at 3100
Since 3100 > market price, the order will be placed and wait.
Case 4: Immediate Short Entry
Current price: 3000
Order price: 2995
Since 2995 ≤ market price, the order may be executed immediately.
Risk Reminder
• Limit orders do not guarantee execution
• In fast markets, price may skip the limit order
• Orders close to market price may execute immediately
• Orders too far from market price may remain unfilled for a long time
• Set prices based on market depth and trend
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Copy Trading Description
ICOIN provides Copy Trading functionality, allowing users to replicate the strategies of professional traders automatically.
Function Description
1. Copy trading allows users to select a trader and automatically replicate their trades, including opening, closing, and position adjustments.
2. Users can customize parameters based on risk preference:
• Copy trading capital
• Maximum position per trade
• Maximum total position
• Risk control parameters (stop loss/take profit)
3. All trades are executed within the user’s own account. Funds remain fully controlled by the user.
4. Users can intervene at any time:
• Manually close positions
• Pause or stop copying
• Adjust parameters
5. Copy trading results depend on trader performance and market conditions and do not guarantee profits.
Example
Case 1: Beginner Participation
User lacks experience and wants to follow professional strategies.
Steps:
• Select a trader with stable performance
• Set copy amount (e.g., 1000 USDT)
• Start copy trading
The system will automatically replicate trades.
Case 2: Multi-Strategy Diversification
User wants to reduce risk by following multiple traders.
Steps:
• Select multiple traders
• Allocate funds
• Set unified risk parameters
This helps diversify risk.
Risk Reminder
• Copy trading does not guarantee profit
• Strategies vary; review performance metrics (e.g., drawdown)
• Avoid over-concentration
• Regularly evaluate and adjust strategies
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Trigger Order Description
ICOIN futures support Trigger Orders, allowing users to preset trigger conditions and automatically place orders when conditions are met.
Function Description
1. Trigger orders consist of:
• Trigger Price: condition to activate the order
• Order Price: execution price after trigger (limit or market)
2. Before triggering, no margin or position is occupied.
3. When the market price or mark price reaches the trigger condition, the system will place the order automatically.
4. After triggering, the order behaves like a normal order but is not guaranteed to be filled.
5. Trigger failure may occur if:
• Insufficient margin
• Insufficient position (for closing)
• Contract not tradable
• Price volatility invalidates order
• System or risk control restrictions
6. Triggered but unfilled orders can be viewed in “Open Orders”.
7. Untriggered orders can be modified or canceled anytime.
8. Quantity limits may apply depending on the contract.
Example (ETH Futures)
Case 1: Breakout Long
Trigger: 3000
Order Price: 3005 or Market
Direction: Buy to Open
Order triggers when price ≥ 3000
Case 2: Breakdown Short
Trigger: 2600
Order Price: 2595 or Market
Direction: Sell to Open
Order triggers when price ≤ 2600
Case 3: Stop Loss
Trigger: 2700
Order Price: Market
Direction: Sell to Close Long
Case 4: Take Profit
Trigger: 2500
Order Price: Market
Direction: Buy to Close Short
Risk Reminder
• Trigger orders do not guarantee execution
• Prices may skip trigger levels in extreme conditions
• Limit orders may fail after trigger
• Market orders are recommended for stop-loss
• Ensure sufficient margin
• Set trigger prices carefully based on mark price and last price
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