Education
Here you will find all the knowledge and tools for confident trading in the
Moonbot terminal:
from understanding terms and strategies — to trade analysis and risk control.
Orders and Trade Execution
— a trader’s request to buy or sell an asset on the exchange under specified conditions.
— an order to buy or sell an asset at a predetermined price or better. This type of order is only executed when the market reaches the specified price level.
— an order to buy or sell an asset at the best available market price at the current moment. It is executed immediately but without any guarantee of the exact price.
— the process by which a trader’s buy or sell request is matched with counter-orders in the order book and completed on the market.
— the role of an order that adds liquidity to the order book by waiting to be filled at a specified price.
— the role of an order that immediately fills using existing orders in the order book, removing liquidity from the market.
— a fee charged by the exchange for orders that add liquidity to the order book. Maker fees are generally lower than taker fees.
— a fee charged by the exchange for orders that execute immediately by consuming existing liquidity from the order book.
— the fee charged by the exchange when opening and closing trading positions. The fee is applied every time an order is executed and reduces the net result of the trade regardless of whether it is profitable.
Typically:
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A fee is charged both when entering and exiting a position
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The fee amount depends on the order type (market or limit) and the exchange's fee schedule
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Even a losing trade will reduce your deposit further due to the commission.
— a situation where an order is executed at a price different from the expected one. This occurs due to how exchanges operate: when you place a market order to buy or sell, it is filled using the limit orders available in the order book from other traders. If your order volume exceeds the available volume at the best price level, the system will continue executing the order at the next less favorable price levels.
Example: You want to buy 10 BTC at the current market price of 65,000 USDT. The order book only has 3 BTC available at that level. Your market order will be executed as follows:
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3 BTC at 65,000 USDT (best price)
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4 BTC at 65,050 USDT (next level)
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3 BTC at 65,100 USDT (higher level).
As a result, the average purchase price will be around 65,070 USDT instead of the expected 65,000 USDT. This 70 USDT difference per bitcoin is the slippage.
Slippage is especially noticeable on low-liquidity assets (few orders in the book) or during rapid market movements when the price changes faster than your order can be filled. To minimize slippage, experienced traders use limit orders instead of market orders or break large trades into smaller ones.