What is Post Only Order?
Post Only Orders are added to the order book when you place the order, but they are not executed immediately.
Buy Example:
If the current market price on BTC is 20,000$, the buying price of a Post Only order must be lower than the current price. It means you should choose lower price than current price like 18,000$. If you place a buy Post Only order which is above the current price like 22,000$, the order will be filled immediately and the executed price will be around 20,000$.
Sell Example:
If the current market price on BTC is 20,000$, the selling price of a Post Only order must be higher than the current price. It means you should choose higher price than current price like 22,000$. If you place a sell Post Only order which is lower the current price like 18,000$, the order will be filled immediately and the executed price will be around 20,000$.
How to place a Limit Order at Coinlocally?
- [Login] to your account and go to [Futures Trading] page.
- Choose your asset like BTCUSDT pair.
- Choose [Post Only] order type.
- Set your [Limit Price] and enter your [Size].
Note:
You can enter your amount and see your assets value at BTC units. To switch your unit to USDT you can click on the [BTC] button for observing your assets value in USDT. Also, you can drag the Slider to calculating your Size by system automatically.
- Now, you can click [Buy/Long] or [Sell/Short] to place your Post Only orders for buying and selling your perpetual contracts.
- Your Post Only Order will be placed in order book and you can see your order at the end of Futures page in [Open orders] tab. When your orders triggered and become position, you are able to see your positions at the end of Futures page in [Positions] tab. And when your positions hit your targets, you can see the details and information about your positions in [Order History] or [Trade History] tab.