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  2. Exchange
  3. Orders
  4. Trade Orders

Take-Market

  • Updated

A take-market will place a market order in the opposite direction to price movement, only once the trigger price has been hit. For a take market order to buy, the trigger price needs to be lower than the current value. For a take market order to sell, the trigger price needs to be higher than the current value.

Example of a take market order

For Long Positions:

If the current price of bitcoin is $100,000 and the client wishes to take profit with a market order that is triggered at $120,000 for an open long position, a take-market order is one way of achieving this. A take market with a trigger price of $120,000 could be placed. Once the take market has been triggered,a market order to sell will be placed. The market order is only created after the trigger price for the take market has been reached. The trigger price can be set to use the last price, mark price or index price.

For Short Positions:

If the current price of bitcoin is $100,000 and the client wishes to take profit with a market order that is triggered at $80,000 for an open short position, a take-market order is one way of achieving this. A take market with a trigger price of $80,000 could be placed. Once the take market has been triggered, a market order to buy will be placed. The market order is only created after the trigger price for the take market has been reached. The trigger price can be set to use the last price, mark price or index price.

Placing a take market on Deribit

  1. USD or asset selection. Choose whether you want to enter the size of the order in USD or an amount of the underlying asset. Values will be rounded to the nearest valid amount.

  2. RFQ. This button allows traders to send a notification to market makers that indicates they are interested in trading the instrument. This will allow market makers to put a quote into the order book for the requested size. This button is informational only, not an execution mechanism.

  3. A profit and loss calculator.

  4. Order type. Some order types are not available for certain instruments.

  5. Order amount

  6. Trigger Price - The price which once reached, will trigger the placement of the order.

  7. Trigger

    • Mark - When “Mark” is selected for the trigger price, the mark price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

    • Last - When “Last” is selected for the trigger price, the last traded price of the instrument reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

    • Index - When “Index” is selected for the trigger price, the index price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

  8. Buy and Sell buttons

  9. Special

    • Reduce (reduce_only) - This setting will ensure the order can only reduce an open position. It can not increase the size of any existing positions, or open any new positions.

  10. The current position size on the selected instrument.

  11. The maximum leverage possible on the instrument.

  12. Take profit as secondary order.

    1. On/Off toggle.

    2. Order type. Some order types are not available for certain instruments.

    3. Trigger Price - The price which once reached, will trigger the placement of the order.

    4. Order price

    5. Trigger

      • Mark - When “Mark” is selected for the trigger price, the mark price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

      • Last - When “Last” is selected for the trigger price, the last traded price of the instrument reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

      • Index - When “Index” is selected for the trigger price, the index price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

    6. Special

      • Reduce (reduce_only) - This setting will ensure the order can only reduce an open position. It can not increase the size of any existing positions, or open any new positions.

    7. Estimated profit if the primary order is filled and then the secondary order is also filled.

  13. Stop-loss as secondary order.

    1. On/Off toggle.

    2. Order type. Some order types are not available for certain instruments.

    3. Trigger Price - The price which once reached, will trigger the placement of the order.

    4. Order price

    5. Trigger

      • Mark - When “Mark” is selected for the trigger price, the mark price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

      • Last - When “Last” is selected for the trigger price, the last traded price of the instrument reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

      • Index - When “Index” is selected for the trigger price, the index price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

    6. Trigger Offset - Used to set the maximum distance from the current price for a trailing stop.

    7. Special

      • Reduce (reduce_only) - This setting will ensure the order can only reduce an open position. It can not increase the size of any existing positions, or open any new positions.

    8. Estimated profit if the primary order is filled and then the secondary order is also filled.

  14. Initial margin requirement

  15. Position impact PM (portfolio margin).