Before following this guide, make sure you select the MARGIN market at the top of the dashboard!
For more details on how margin trading works, see these articles:
- [Margin] What happens in a margin trade?
- [Margin] How much leverage does QUOINEX offer?
- [Margin] Margin call
- [Margin] Example trade
The panel where you can place orders is by default on the outer left of your dashboard. Select Limit to continue.
Similar to placing margin market orders, there are many things you have to pay attention to before placing any type of order in margin trading, the most important being your Margin Coverage, as a margin call will occur if this number hits 110%. System provides a preview of price, margin, fee, and interest, all of which can change according to the market and your input.
A limit order, as explained in [Spot & Margin] Types of Orders, is an order to be executed when market price hits a limit. This limit must be better than market price at the time the order is entered. In a margin trade, the "limit" characteristic only applies to the first order (the order that opens the trade). The second order (the one that closes the trade) is a market order. For this reason, stop orders and trailing stop orders until this moment do not work in margin trading on QUOINEX. To implement the real "limit," you need to use Stop-Loss and Take-Profit.
Now let's place a limit order, going short 1 BTC at 25x leverage rate, limit price $4,500.00.
Click Submit Order to continue, or Dismiss to go back.
As market bid has not hit your limit price yet, the newly submitted limit order is still unmatched and displayed as "unfilled" on the Orders panel. A short position will open when the order is matched and will increase in size until it is matched fully and 100% filled.