Warrants trading currently supports Limit Orders and Market Orders. Advanced Order Types and Reduce Only may be introduced in the future.
1. Creating a position: You can create a position by creating a Limit Order or Market Order. This involves the following steps:
(i) Select the “Limit” tab or “Market” tab, depending on whether you want to create a Limited Order or Market Order.
(ii) Input the price at which you want to trade (if you want to create a Limit Order). The minimum price or tick size is 0.001 USD to 10 USD (depending on the specification of each Warrant). There is no need to input the price if you want to create a Market Order.
(iii) Input the quantity of Warrant you want to trade with. The minimum order quantity is 10 BTCUSD Warrant contracts (contract conversion ratio = 10,000).
(iv) Press the “Buy” button if you want to create a Long position, or press the “Sell” button if you want to reduce your existing Long position.
Please note: you are not able to create a short position. Sell orders can only be placed to reduce or close an existing Long position.
2. Monitoring existing open positions: After the Order is filled, a position is created. You can monitor open positions under the Positions panel. The estimated value and PNL(ROI%) of your warrant position is based on the corresponding orderbook’s mid-price where available.
3. Closing a position: You can close your position in two ways (refer to A and B images below):
A. You can close or reduce your open position by creating a Limit Order or Market Order in the opposite direction of your open position. For example, if you want to close a long open position, you can create a Sell Limit Order or Market orders to reduce or close your long open position. You must always carefully check your existing positions before doing so to ensure correct input.
B. You can close your open position by clicking the “Limit” or the “Market” button located at the bottom right of the position panel. The Limit button will create a counter Limit Order to your open position at a specified limit price. The Market button will execute a counter Market Order to your open position.