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.
Before following this guide, make sure you select the MARGIN market!
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
Placing a limit order in margin trading is like placing one in spot trading. However, you need to pay attention to 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. You will need to consider everything carefully before placing an order and taking a position.
Once placed, the order will be displayed in Orders panel (bottom left by default). This is the first order of your margin trade, and being a market order, it was filled immediately at market ask. The position resulted from this order is reflected in Positions panel (same place as Orders panel).
All transactions related to this order are displayed in Transactions panel.
Note that at this point, you have an open position. In order to realize your P&L, you need to close the position.