Limit order: short/long
Last updated
Last updated
We will illustrate how to open a position at a limit price with a long position. The process is the same for shorts; simply click on “Short” on the home screen. When you click on “Long,” this is the form you’ll see:
There are three mandatory fields when setting up a limit order:
The limit price - the price at which you wish your order to be filled.
The margin.
The leverage.
When shorting, you cannot set a price higher than the current price, and when longing, you cannot set a price lower than the current price.
The minimum margin requirement is 16.5 USDC. As your leverage increases, the required margin will also increase.
Take profit / Stop loss
An optional field appears at the bottom of the form. By clicking “Add,” you can include take-profit and stop-loss orders to your position.
A take-profit or stop-loss order will automatically close your position when the underlying asset reaches a specific price.
If the maximum capacity of open interest is reached on Synthetix markets, your limit order will not go through. It’s pretty rare, but we’d rather make sure our users are ready for it.
