Market Order

This section documents the market_order action

This action is used to create a Market Order.

• Order will be triggered immediately with a Market Order

• This action can be used for both opening and closing positions (including adding/reducing size)

• Some parameters are only available for Perps

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Example Request

This example opens a long position on BTC using a size of $100 USD, with 1% stop-loss and 2% take-profit

{
  "action": "market_order", 
  "coin": "BTC",
  "is_buy": true,
  "size_usd": 100,
  "sl_pct": 0.01,
  "tp_pct": 0.02,
  "reduce_only": false,
  "bot_id": BOT_ID,
  "api_key": "API_KEY"
}

This example closes a long position on BTC using a size of $100 USD

{
  "action": "market_order", 
  "coin": "BTC",
  "is_buy": false,
  "size_usd": 100,
  "reduce_only": true,
  "bot_id": BOT_ID,
  "api_key": "API_KEY"
}

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coin*

This required parameter indicates which coin to use for the action.

"coin": "BTC"

You can whitelist coins allowed for trading in your Bot Settings

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is_buy*

This required parameter indicates the direction of the trade.

• True can open a Long position or close a Short position

• False can open a Short position or close a Long position

"is_buy": true

---

reduce_only*

This parameter is only available for Perps.

This required parameter indicates whether an order should only be used to close an existing position (true) or for both opening and closing/reducing positions. (false)

• A value of true will only allow closing/reducing position

• A value of false will allow both opening and closing position

"reduce_ony": true

---

Sizes

3 size types are available to use: size, size_pct, size_usd.

size

This parameter indicates a size in contracts to use for the trade.

• A value of 0.005 is equal to 0.005 BTC (requested coin)

"size": 0.005

size_usd

This parameter indicates a size in USD to use for the trade

• A value of 100 is equal to $100 USD

"size_usd": 100

size_pct

This parameter indicates either a size % of available balance to use when opening an order, or a size % of the current position when closing an order.

• A value of 0.1 is equal to 10%

"size_pct": 0.1

• When opening an order (reduce_only=false), a size_pct of 0.1 means 10% of available account balance

• When closing an order (reduce_only=true), a size_pct of 0.1 means 10% of current position size

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Take Profit & Stop Loss

Stop losses and take profits are only available for Perps.

Stop-loss and take-profit uses Stop Market orders that will trigger when reaching the specified price.

• Setting TP/SL when opening new positions (or switching direction) will create Main TP/SL that can be updated by using the Modify TP/SL action, or canceled using the Cancel TP/SL action. Main TP/SL will close the entire position when triggered.
• Setting TP/SL when adding size to an existing position will place additional Normal TP/SL orders. Normal TP/SL will close only the size that was added to the position when triggered.

sl_pct

This parameter indicates the % from entry to place your stop-loss.

• A value of 0.01 is equal to a 1% stop-loss

"sl_pct": 0.01

tp_pct

This parameter indicates the % from entry to place your take-profit.

• A value of 0.01 is equal to a 1% take-profit

"tp_pct": 0.01

sl

This parameter indicates a direct price to place your stop-loss.

"sl": 62500

tp

This parameter indicates a direct price to place your take-profit.

"tp": 72500

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slippage_pct

This parameter indicates the Max. % slippage allowed for the trade to execute.

• A value of 0.05 is equal to 5%

"slippage_pct": 0.05

Default slippage is set at 5% when not specified

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delay

This parameter indicates a number of seconds to wait before triggering the action

• A value of 5 is equal to a 5 seconds delay

• Max. allowed delay is 10 seconds

"delay": 5