Order Types

<p>TWAP (Time-Weighted Average Price) is an order that buys or sells coins in equal portions over a set period of time. With the TWAP order, you can average your coin’s sale or purchase price and minimize the impact of a large order on the market.</p>
<h3 id="h_01J2DRVKMXTQANM2HFHTFGCMKW">Create a TWAP order</h3>
<p>The TWAP order is available only for <strong>spot trading</strong> and can be accessed on the <a href="https://app.bitsgap.com/trading" target="_blank" rel="noopener noreferrer">Trading</a> page. To create a TWAP order, go to the trading widget and select the&nbsp;<strong>TWAP</strong> order type.</p>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/14862507272476" alt="Untitled.png"></p>
<p>Now enter the order's parameters:</p>
<ol>
<li>Select a <strong>side</strong> — Buy or Sell.</li>
<li>Enter the total <strong>amount</strong> of the base currency to buy or sell in the&nbsp;<strong>Amount</strong>&nbsp;field, or select the <strong>percentage</strong> based on your available balance.</li>
<li>Specify the <strong>buy or sell period</strong> — in what period of time your TWAP order should be fully completed.</li>
<li>Enter the <strong>total number</strong> of <strong>market orders</strong> to be executed during the chosen period. You can check the base currency amount purchased or sold with each of your market orders in the <strong>Buy or Sell</strong> <strong>quantity each time</strong> field.</li>
</ol>
<p>When ready, click the&nbsp;<strong>[Buy/Sell ...]</strong>&nbsp;button to create your TWAP order.</p>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/14862490616348" alt="Untitled (1).png"></p>
<p>In the example above, we want to buy 10 SOL in 1 hour, dividing the purchase evenly among the 10 orders. With each order, we will buy 1 SOL at the market price. Each market order will be executed every 6 minutes: the Buy period (60 minutes) divided by the Total orders number (10).</p>
<p class="notes"><strong>Note<br></strong>The first market order is always completed once you place your TWAP order.</p>
<h3 id="h_01J2DRWS2WCV3XNTYE6EVC0X5B">View and manage your open TWAP orders</h3>
<p>You can see your active TWAP orders on the <strong>Trading</strong> page, in the <strong>Open orders</strong> tab:</p>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/14862490616988" alt="Untitled (2).png"></p>
<p>Here, you can check the following:</p>
<ul>
<li>
<strong>Price</strong> - the average purchase or sale price.</li>
<li>
<strong>Amount</strong> - the base currency amount per each market order.</li>
<li>
<strong>Filled</strong> - the order completion percentage. With this value, you can understand how many market orders (parts of your whole TWAP order) are filled and how much is left for your trade to be completely filled.</li>
<li>
<strong>Total</strong> - the estimated value of all market orders within your TWAP trade.</li>
<li>
<strong>Date</strong> - the TWAP order creation date.</li>
</ul>
<p>If there are any changes to your strategy, you can always cancel your TWAP order. To do so, click on the [<strong>Cancel</strong>] button and confirm the action:</p>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/14862507277724" alt="GIF Recording 2024-07-08 at 4.41.01  (1).gif"></p>
<p>The TWAP order can become a life-changing solution if you want to divide your trade into parts and average its buy or sell price. TWAP orders are easy to customize and efficient in minimizing the effect of your order on the chosen market.</p>
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<p style="box-sizing: border-box;"><strong style="box-sizing: border-box; font-weight: bolder;">Get stuck? Ask your question to our community on&nbsp;<a style="box-sizing: border-box; background-color: transparent; color: var(--linkcolor); text-decoration: underline;" href="https://t.me/bitsgap" target="_blank" rel="nofollow noopener noreferrer">Telegram</a>!</strong></p>
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TWAP order


<p>Scaled order consists of several limit orders placed one by one in decreasing or increasing order of price.</p>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863727072156"></p>
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<h2 id="h_daa2902cea">How to create a Scaled order</h2>
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<p>When creating a Scaled order, you have to select:</p>
<ol>
<li>Buy or Sell;</li>
<li>High and Low prices;</li>
<li>The number of levels from 10 to 100;</li>
<li>The Amount in the base currency or the Total in the quote currency.</li>
</ol>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863743333532"></p>
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<p>All orders for both buy and sell are placed with the same volume in the base currency. If our Amount is 0.03595 BTC, and we have 10 grids, the system will distribute that Amount among 10 grids. So, each order will hold 0.003595 BTC.</p>
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<p class="notes"><strong>Note<br></strong>The Low price has to be less than the High price, and there should be a distance between them that allows placing the specified number of orders.</p>
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<p>When launching a scaled order, the buy order can only be placed under the current price. It means that the sell-scaled order can be placed only above the current price. Once all the parameters are set, click [<strong>Buy/Sell ...].</strong></p>
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<h2 id="h_194e23e978">Track your Scaled order</h2>
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<p>To see whether your order has been filled, go to the <strong>Open orders</strong> tab. The Filled volume will appear as the limit orders are executed.</p>
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<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198049572892"></p>
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<p>As the orders get completed, the price range will shrink, the volumes will decrease, and the percentage of execution will grow.</p>
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<p class="notes"><strong>Note<br></strong>Once the order has been placed, it cannot be modified. The only way to change it is to cancel the order and create a new one.</p>
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<p>After placing the order, High and Low orders will be displayed with crosses. By pressing any cross, the scaled order will be fully canceled.</p>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863743347868"></p>
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<h2 id="h_fe481db85c">Sell and Buy Scaled orders</h2>
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<p>Scaled buy orders are great for price averaging. When creating it, the High price should be set below the current price, and the Low price has to be under the High price. Otherwise, the system will ask you to adjust the range.</p>
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<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863743360412"></p>
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<p>If we talk about Scaled sell orders, they are great for selling all the way up. This way, you can sell your base currency at a higher price each time the price moves up.</p>
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<p>The Scaled sell order should be set above the current price. Just like with the Scaled buy order, the Low price has to be below the High price.</p>
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<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863727133980"></p>
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<p id="h_148697df19"><strong>Get stuck? Ask your question to our community on <a href="https://t.me/bitsgap" target="_blank" rel="nofollow noopener noreferrer">Telegram</a>!</strong></p>
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Scaled order

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<p>A Stop-Market order is an order that <strong>buys or sells a cryptocurrency at the market price </strong>as soon as it reaches the trigger level. The general purpose of a Stop order is the <strong>opposite of a Limit order</strong>, where instead of buying or selling cryptocurrency at a specific price, it will be filled at the best price available when triggered.</p>
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<h2 id="h_92ce6a5988">Create Stop-Market order</h2>
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<p>The Stop order is available only for spot trading and it can be accessed on the <a href="https://app.bitsgap.com/trading" target="_blank" rel="nofollow noopener noreferrer">Trading</a> page. To create a Stop-Market order, head to the trading widget and select the <strong>Stop</strong> tab.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863965263132"></p>
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<p>Now enter the order's parameters:</p>
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<ol>
<li>Select a side - Buy or Sell. Please note that the Buy price should be <strong>above</strong> the current price and vice versa; the Sell price should be <strong>below</strong> the current price.</li>
<li>Enter the trigger price in the <strong>Price</strong> field.</li>
<li>Enter the amount of the base currency to buy or sell in the <strong>Amount</strong> field.</li>
<li>Alternatively, you can enter the <strong>Total</strong> amount of the quote currency that should be spent for the buy order or received from the sell order.</li>
<li>
<strong>Optional:</strong> Activate any extra features - Take Profit, Trailing Take Profit, Stop Loss, Trailing, or OCO.</li>
<li>When you are ready, click on the <strong>[Buy/Sell ...] </strong>button to create your Stop-Market order.</li>
</ol>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863956671772" alt="Screenshot_1.jpg"></p>
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<h2 id="h_474aa676b6">View and manage your open Stop orders</h2>
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<p>Once you place a Stop-Market order, it will be converted to a "Stop" type in the <strong>Open Orders</strong> tab. You can modify Stop Loss (SL) and Take Profit (TP) levels anytime enabled during the order placement process. To do so, click on the pencil icon.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198193987868"></p>
<p>Enable, disable, or adjust TP and/or SL. Once all the changes have been made, press the [<strong>Save]</strong> button.</p>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863965278748"></p>
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<h2 id="h_4a50c53359">Situations when Stop-Market orders can be used</h2>
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<p>There are no limitations to the usability of any service, anything can be used differently based on personal strategies and choices. However, we highlight the two most important use cases where the Stop-Market order can come in handy.</p>
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<h3 id="h_e333949d72">Resistance breakout</h3>
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<p>When the price makes a resistance breakout, it usually brings more volume to the market, which will push the price even higher. Your Stop-Market Buy order will guarantee to enter the trade as soon as the key resistance is crossed.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/9965618011676" alt="st5.png"></p>
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<h3 id="h_950e9e65e6">Support breakout &amp; Eliminating slippage</h3>
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<p>Another use case for the Stop-Market order is to do the opposite on the support breakout when it is necessary to leave the market to prevent further losses. The main difference here between the Stop-Limit and the Stop-Market is that the Stop-Market order will ignore the slippage that may occur in the order book and will guarantee that your coins will be sold at the best price possible.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/9965598052252" alt="st6.png"></p>
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<h2 id="h_d094632ef0">The difference between a Limit order and a Stop order</h2>
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<p>There are two main differences between Limit and Stop orders:</p>
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<ol>
<li>A <strong>Limit</strong> order is visible for the market participants and can be only filled at a specific price or better.</li>
<li>Unlike a Limit order, a <strong>Stop</strong> order isn't visible in the order book and will be executed at a market price after a trigger price has been reached.</li>
</ol>
</div>
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<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>A Limit order is an order used to buy or sell a coin at a specific price. However, you <strong>cannot set </strong>a limit order to buy a coin <strong>above the market price</strong> because a better price is already available.</p>
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<p>A Stop order will turn into a market order once your stop price is met or exceeded. A Stop order <strong>can be set</strong> <strong>above the current market price.</strong></p>
<h2 id="h_01HM8NMVB97M289Z02CFNVQECZ">Trailing for Stop-Market Order</h2>
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<p>The Stop-Market order has an extra Trailing option that will follow the price and move your open order accordingly. This option is helpful in situations when you want to shift your open Stop-Market order if the price is moved by a certain percentage. It will allow you to set the stop-market order and leave the automation to do the rest with no need to move your order manually.</p>
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<p>To enable the Trailing feature, toggle the "<strong>Trailing</strong>" option while configuring your Stop-Market order.</p>
<p><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198123872284" alt="Screen Shot.png"></p>
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<p>After, when the Trailing option is enabled, enter the Price step percentage (%) to define at what distance from the current price Trailing should move the order.</p>
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<h2 id="h_0aba22ad4e">Control the price step when Trailing moves the order</h2>
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<p>Trailing will move the order when the price changes by a set percentage in the price step. You can set up the Price step as a minimum of 0.2%. Here is a step-by-step example of how this feature will work in real trading:</p>
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<ol>
<li>BTC price is 45k, you want to place a Stop order to buy the coin at 47k with a Price step of 5%.</li>
<li>As soon as the price drops by 5% i.e. to 42.75k, your Stop order will be moved to 44.65k (by 5%).</li>
<li>If the price continues to go down, the order will be moved when the price deviation will be 5% again.</li>
</ol>
</div>
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<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>As you can see, the Trailing triggers every 5% and move the open order by 5% down or up from the previous position.</p>
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<p class="notes"><strong>Tip<br></strong>If you do not want to miss a single move, then you can set it up to a minimum of 0.2% and this setting will increase the frequency when the trailing should move the order.</p>
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<h2 id="h_309aaba512">Situations when Trailing can be used</h2>
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<p>There are two trading situations when you can consider using the trailing for your Stop-Market order: <strong>Buy the Dip</strong> and <strong>Sell the Tip</strong>. Both provide an advantage when opening and closing the trade.</p>
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<h3 id="h_01HM8NRRXCMM6B3155C8ZP77KS" class="intercom-interblocks-subheading intercom-interblocks-align-left">Buy the Dip</h3>
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<p>Adding Trailing to your Stop-Market buy order can give you an advantage of a better entry price. Trailing will follow the price down and move the open order until the price reverses and hits it. This way, you can enter the trade at the best price possible, which will provide better results in comparison to an earlier uncertain entry.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198123882140" alt="t2.png"></p>
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<h3 id="h_1055c24a73">Sell the Tip</h3>
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<p>Another possible use for Trailing is adding it to your Stop-Market sell order which will exit the trade at the best possible price by following the price upwards. This feature is also known as <strong>moving trailing stop</strong>. In this case, Trailing will follow the price up and move the open order until the price reverses and hits it. This way, you can sell your coins at the top and avoid moving your Stop orders manually.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198099292700" alt="t3.png"></p>
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<p id="h_7d5647eb06"><strong>Get stuck? Ask your question to our community on <a href="https://t.me/bitsgap" target="_blank" rel="nofollow noopener noreferrer">Telegram</a>!</strong></p>
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