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)

• Positions direction switch is not handled automatically (like in Open Position), but can be achieved manually by specifying a larger opposite size than the current position size.

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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

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reduce_only*

This required parameter indicates whether the order is allowed to only reduce position size or not.

This parameter is only available for Perps.

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

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

"reduce_ony": true

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Sizes*

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

size

This parameter indicates a size in contracts.

• A value of 0.005 is equal to 0.005 BTC

"size": 0.005

size_usd

This parameter indicates a size in USD.

• A value of 100 is equal to $100 USD

"size_usd": 100

size_pct

This parameter indicates either a size in percentage of available balance when opening an order, or a size in percentage of 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

These parameters allows you to add single take-profit and stop-loss orders.

This parameter is only available for Perps.

• Single TP/SL orders will market-close a percentage of the current order size

• Percentage-based TP/SL are calculated based on entry prices (not ROE %)

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

Defaults to 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