01 · Execution
The order is placed carefully, by rules you can read.
- By hand
- Post a limit order at the best price, watch it for a quarter of an hour, re-post when the price moves, and decide when to give up. Every time, at midnight UTC.
- Autopilot
- The same order goes through a documented lifecycle at every check, and its fills are booked as the venue recorded them. Maker first is the default; the owner can switch an account to market in Manage account.
Illustration · Post
Posted at the touch, never across it.
A post-only limit buy at the best bid, $100,000.00. If it would cross the spread the venue rejects it rather than filling it as a taker, so the venue's maker fee applies to whatever fills here. Then it rests.
- Elapsed
- 0 min
- Best bid now
- $100,000.00
- Order posted at
- $100,000.00
- Moved since start
- 0.00
- Filled so far
- None
- Remaining
- 0.10000000 BTC
- Decision
- Rest
- 1.Post a post-only limit order at the touch: the bid for a buy, the ask for a sell. It never crosses the spread, so the venue's maker fee applies to what fills there.
- 2.At each check, about every 5 minutes, book any fills and decide: keep, re-post or finish.
- 3.Re-post at the new touch when the price has walked away by 10 ticks or 0.05% of the posted price, whichever is larger.
- 4.Finish at market when 15 minutes have passed since the first post, or the price has moved more than 0.15% against where the attempt began.
- 5.Partial fills are booked; only the remainder goes on. An uncertain cancel blocks any replacement. Only a definite venue rejection allows a market fallback.
- 6.No order is sent at all if the live price is more than 10% away from the last daily close.
- 7.Fees are never estimated: each fill's real fee is read from the venue and booked.
- 8.Maker first is the default. The owner can switch an account to market in Manage account. Neither style promises a better overall price or lower total cost.