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The order ticket

Tapping a price opens an order ticket. The order ticket holds a quote: the price and the size available to you at that moment. A quote on the order ticket is valid for a few seconds only, because prices move. If yours expires before you confirm, refresh it and take the current price.

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Market and limit orders

Market order. Take what is on the book now. Fast, and the price is whatever is available. Limit order. Name your price and an expiration. It matches only at your price or better, and waits on the book until it fills or expires. An order that expires unmatched shows Not filled. You can set a default expiration in settings. In normal mode the order ticket defaults to a market order. Select Market on the ticket to switch it to Limit. In MagicMarkets Pro the ticket defaults to a limit order, with the order book alongside.

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Minimums and Buy-only markets

Each order has a minimum amount. The order ticket tells you if yours is below it. Some markets are Buy only. On those you can Buy at the shown price or with a limit price, but you cannot Sell. The order ticket says so.

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Managing a working order

While an order is unmatched, or partly matched, you can cancel it. Cancelling removes the unmatched remainder. Anything already matched stays matched: a fill cannot be undone. For example, if 200 of your 500 USDT has matched and you cancel, you keep the 200 USDT position and the other 300 USDT is removed.

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Partial fills

An order can match in pieces. It shows Filling while it works, then Filled if it completes or Partial if it stops part way. Judge the outcome on your average matched price, not on the price you asked for. Both are reported.

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Multiple order tickets in MagicMarkets Pro

MagicMarkets Pro can hold more than one order ticket at once in the same market. See MagicMarkets Pro.

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Keep a little cash free

Closing a position needs available cash for a moment, even when you are closing at a profit, because a sell puts up liability. Leave some balance unallocated so you can trade out when you want to. See Closing a position.

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Programmatic orders

To place orders from your own code, use the API. The MagicMarkets CLI is the quickest way to start. See Developers.

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Order statuses