dYdX allows three different order types - Market, Limit, and Stop.
A Market order is an order to buy or sell a given asset and will execute immediately at the current market price.
- Select Market (Margin or Perpetuals)
- Select Long or Short
- Enter an Amount - this is the total position size (if in "Margin" mode), or trade size in "Trade" mode
Market orders may generate some price slippage depending on the size of the trade. dYdX limits slippage to .5% to protect the trader. If it reaches an amount higher than this, the trade will fail.
Advanced Market Order Options
You can edit your max slippage under the Advanced section in the trade box.
A Limit order is an order to buy or sell a given asset at a specified (or better) price. A limit order to buy will only execute at the limit price or lower, and a limit order to sell will only execute at the limit price or higher.
- If on the Margin page, select the Cross tab in the trade-bar on the left side of the page to access limit orders. On the Spot and Perpetual pages, limit orders will be available in the default view, so you can move on to step 2.
- Select Buy or Sell
- Enter the quantity to be traded and your price
Limit orders have a default Good Til Date of 28 days which can be changed.
Advanced Limit Order Options
You can also add options like Good-Til-Date, Post-Only, or Fill Or Kill. When selecting a limit order, you can expand the Advanced section to reveal the following Time in Force policies:
- Good Til Date - This order will be placed on the order book and automatically expires at the specified date.
- Post-Only - This order is either placed in the order book or expires if matches an existing order. Post-only option guarantees that you will not pay the taker fee.
- Fill or Kill - This order will only complete if the entire amount can be matched. Partial matches are not filled with this order type and will not execute.
A Stop order will execute only when the index price crosses a specified stop price.
For open positions:
- Hover over the Stop Price column under the "Positions tab for the position you would like to add a stop to
- Enter your desired Stop Price
For spot, perpetual, or cross margin:
- If on the Margin page, select the Cross tab in the trade-bar on the left side of the page to access stop orders. On the Spot and Perpetual pages, stop orders will be available in the default view, so you can move on to step 2.
- Select Buy or Sell
- Enter an amount and your desired Stop Price
Advanced Stop Order Options
You can edit your Good Til Date and max slippage under the Advanced section in the trade box.
We launched Trailing Stop Loss orders, which allows traders to protect gains by enabling a position to remain open, and continue to profit as long as the price is moving in their favor.
A Trailing Stop Loss order is a modification of a Stop Loss order. The stop price on a trailing stop is determined by the trailing percent. If the index price moves in favor of your position, the stop price will update to “trail” the index price based on your trailing percent. For a long position, a trader places a trailing stop loss below the current market price. For a short position, a trader places the trailing stop above the current market price.