Order Types

LedgerX exchange is open 24x7. 

You can place market orders and limit orders. To place a limit order, simply enter your desired Quantity and Price and click the Buy or Sell button.

Market orders are the most basic type of trades. If you place a market order, you will be immediately buying or selling by taking the best available bid or ask in the order book. 

Limit Orders

A limit order (also known as resting order or pending order) allows you to set a price you would like to execute in the future and not immediately.

The trade will only execute once it reached the price entered. The order will not be filled if the price does not reach this level.

In a few words, a limit order sets the maximum or minimum price at which a trader is willing to buy or sell the underlying asset.

Open Orders

Open orders are un-filled orders or trades that have not been executed and are not part of your positions. When you place an open order, crypto or dollars may be locked on your account to fulfill the order if it is executed against. This will be reflected in your Order Locked balance.

With our order system, you are allowed to use the same collateral against multiple orders, but as soon as one order is executed we'll cancel any other orders that do not have sufficient collateral. Your orders will remain open if you do have sufficient collateral to execute the other open orders.

To cancel an open order, click the x button and then “Cancel Order”

Good 'til Canceled (GTC)

Any open Futures or Options order is Good 'Til Canceled (GTC) up until 4pm ET on the expiration date. 

Day Order

Swap orders are canceled if they are not executed before 4pm ET daily.

For example, you enter an order to buy 120 contracts at 8am ET. You are filled on 117 contracts. At 4pm ET you have 3 unfilled open orders. These 3 unfilled orders are canceled at 4pm ET. You purchased 117 contracts.

Order Locked and Position Locked 

You can view your Available for Trading, Order Locked, and Position Locked balances by hovering over your available balance at the top of your LedgerX dashboard.

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Available for Trading Dollars and crypto available for trading. Order Locked funds are a subset of the Available for Trading balance. 
Order Locked  The amount of dollars and crypto locked in open orders. You can use the same dollars and BTC/ETH against multiple open orders. 
Position Locked The amount of dollars and crypto locked in positions. When you close out of a short position, your locked dollars or crypto for that position will be unlocked and moved into Available for Trading. Available for Trading

Note: Withdrawing Order Locked funds will cancel open orders. 

Available funds for withdrawal include your Order Locked funds. If you have Order Locked funds and request a withdrawal for your full Available balance, your open orders will be canceled when you submit the withdrawal. 

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Reporting Error Trades

The LedgerX error trade policy can be found in our rulebook (Rule 11.8 Error Trade Policy). Error trades must be reported within 10 minutes to errors@ledgerx.com. LedgerX will use the policy outlined in our rulebook to determine if the error trade request is valid and falls outside the No Cancellation Range. The no cancellation range can be found in our rulebook (Rule 11.11 No Cancellation Ranges). 

Please email errors@ledgerx.com to report error trades within 10 minutes of trade execution.

 

 

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