1. Go to Adara Platform
2. Select Order side (Sell/Buy), Order type (Market, Limit, Stop-Limit), choose size/required amount of digital assets and desired price.
A Limit order is an order to buy or sell at a specified price or better. A buy limit order (a limit order to buy) is executed at the specified limit price or lower (i.e., better). Conversely, a sell limit order (a limit order to sell) is executed at the specified limit price or higher (again, better).
To choose Limit order option, click Limit in the Order Tool. You will need to specify price and amount of coin you're buying or selling. Shortcuts 25% / 50% / 75% or 100% allow you to quickly choose to buy or sell the part of your balance in a currency account. Fee will be estimated accordingly. Click Sell or Buy to create an order. For a Limit order to work like it's supposed to, the Limit price has to be:
- lower than market price if you're buying;
- higher than market price if you're selling.
The Stop-limit order will be executed at a specified price, or better after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy or sell at the limit price or better.
A stop-limit order requires the setting of two price points.
- Stop: The start of the specified target price for the trade.
- Limit: The outside of the price target for the trade.
A market order is the most basic type of trade order. It’s an order to buy or sell at the best available current price.
To choose a Market order option, click Market in the Order Tool. You will need to specify the amount of coin you're buying or selling. Shortcuts 25% / 50% / 75% or 100% allow you to quickly choose to buy or sell the part of your balance in a currency account. Average price, fee and slippage will be estimated accordingly. The average price is a median price of all orders that will be matched against your Market order.
3. Click Sell or Buy to create an order.
Adara’s matching engine automatically executes the trade. It either places an order in the order book or matches the order to an existing order and closes the trade. A matching algorithm is a technique to allocate matched quantities, used when an incoming order matches with one or multiple resting orders.
Order matching follows three steps:
1. Determine the current prices opposite the incoming order, outright and implied prices.
2. Determine quantity at best price opposite the incoming order, orders at the same price are prioritized by their entry times, with the oldest order having the highest priority.
3. Allocate resting quantity at best price to trade with incoming order using the market algorithm.