Order Types: Market, Limit and Trigger Orders on Everstrike

Everstrike’s order form has two order types, Market and Limit, and either can be turned into a trigger order that waits for a price before it’s placed. This page explains each one and how to size an order.

Market orders

A market order fills immediately against the best prices resting in the order book. You choose the side and the quantity; the price is whatever the book offers. Use a market order when getting filled now matters more than the exact price. Larger orders on thinner books fill across several price levels, so the average price can be worse than the best price you saw (slippage). The order form shows the expected execution price before you submit.

Limit orders

A limit order sets the worst price you accept. A buy fills at your price or lower; a sell at your price or higher. If it can’t fill immediately, it rests in the order book until it fills or you cancel it. Use a limit order when the price matters more than the timing.

Trigger orders

Add a Trigger Price to an order and it waits until the market reaches that price before it’s placed. This is how stop orders work: a sell triggered below the current price limits a loss on a long, and a buy triggered above it can enter a breakout. Trigger on sets which price has to reach the trigger: Trigger orders you’ve placed appear on the Triggers page until they fire or are cancelled.

Sizing an order

You can enter the quantity three ways:

• In the asset, for example 0.01 BTC.
• In USD, as a dollar amount. On Everstrike, USD means evUSD.
• As a share of available, from your available balance.

The form shows the balance an order requires next to what you have available, and warns you if the balance is insufficient or the quantity is below the market’s minimum.

After you submit

The order status window follows the order until it’s accepted, filled or rejected. See Order Status. For extra options such as Post only, Reduce only, Hidden, Iceberg and OCO, see Advanced Order Options.