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Placing Orders

This article details how to place the different order types available on Rails:

Placing an Order

Placing a Market Trigger Order

Placing a Limit Trigger Order

There is a minimum order size of $1 USD for all trades. There is no maximum.

How to Place an Order

To place a market or limit order, complete the following steps:

  1. Select the Asset you wish to trade in the top left hand corner of your Rails account under All Markets.

  2. Select Market or Limit to ensure that you are executing the type of order you want.

  3. Select Buy or Sell depending on whether you want to open a Long or Short position respectively.

  4. Select your preferred Leverage amount by clicking on the cross margin drop down menu.

    • If you already have a leveraged position open, this will be locked because leverage is applied at the account level.

  5. Input the details of your order or use the % options shortcuts to set a percentage of your available balance.

  6. Select Post only if desired.

  7. Click the Buy or Sell button to place your order.

A green "Order accepted" banner will pop and you should see your order appear under the Positions tab if it was successful. See our troubleshooting tips if you need help.

How to Place a Trigger Market Order

The easiest way to add a trigger order is using the shortcut directly from your position in your positions tab.

All shortcut trigger orders are executed as Market Orders.

Follow these steps to use the shortcut to place a Trigger Market Order:

  1. Once you have an open position, navigate to your Positions Tab on the main Trading Page.

  2. Click Add --> on either TP or SL in the Trigger Orders column.

  3. Input the TP/SL Price and Amount for your Take Profit or Stop Loss as desired.

    • You can manually enter the amount or select a % of the position value which will become visible once you click in the Amount space.

    • Your forecasted profit (gain) and loss will be displayed to help you understand the impact of your trigger orders.

    • Leverage will be locked at the same level used to create your open position.

  4. Click UPDATE TRIGGER(S).

You should see a success message in the lower left-hand side of your screen if it was successful. See our troubleshooting tips if you need help.

How to Place a Trigger Limit Order

To place a Trigger Limit Order you must follow these steps:

  1. Click on the trigger order drop down menu and select whether you want a Take Profit Limit Order or a Stop Limit Order.

  2. Select the Trigger Price, which is the price at which you would like the order to execute.

  3. Select the Price which is the highest you would like to take profit or lowest you would like to stop loss.

  4. Input the Amount you would like to buy/sell in one of three ways:

    • Use the % options shortcuts to set a percentage of your available balance, or

    • Input the Amount in either quantity (# of asset) or trade volume ($ in USD) using the arrows to toggle between the two options.

  5. Click the Buy or Sellbutton to place your trigger limit order.

You should see a success message in the lower left-hand side of your screen if it was successful. See our troubleshooting tips if you need help.

Only market trigger orders appear next to your position in the positions tab. To view open limit trigger orders, you must click into the Trigger Orders tab on your main dashboard.

How to select the right limit price

Selecting the best price when you are trading an asset involves setting a specific price at which you are willing to buy or sell it. The goal is to get the desired price, but it requires careful consideration of market conditions and your own trading strategy. Further, failure to select an appropriate price may result in your order not closing if there is no buyer or seller willing to accept your trade.

Steps to Select the Best Price for a Limit Order

Analyze the Market:

  • Current Price: Check the current market price (also known as the index price) of the asset you want to trade. This gives you a baseline.

  • Order Book: Examine the order book, which shows the prices and quantities of buy and sell orders currently placed on Rails. This can help you understand where most traders are placing their orders.

Set Your Desired Price:

  • For Buying: Choose a price below the current market price. This means you are waiting for the price to drop to your set level before your order executes.

  • For Selling: Choose a price above the current market price. Your order will only execute if the price rises to your set level.

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