Use advanced order types effectively
- Choose the order type that matches your actual execution goal before entering price or size.
- Verify price, size, and symbol constraints before signing or submitting anything.
- Add protection settings only when you understand how they interact with the current book state.
- Submit the order and confirm whether it posted, traded, or rejected for the reason you intended.
- Reprice or resize deliberately rather than resubmitting unchanged orders after a guard-triggered rejection.
Pick the correct order style first
| If your goal is to… | Prefer… | Watch for… |
|---|---|---|
| rest on the book at a specific price | a limit order | tick-size compliance and whether the price would cross immediately |
| take available liquidity now | a market order or aggressively priced limit order | price-deviation guards, partial fills, and possible NoLiquidity rejection of the remainder |
| ensure the order only posts and never takes | a post-only style when the current surface exposes it | immediate-cross rejection if the order would trade instead of post |
| reduce existing exposure without growing it | the current reduce-only path when the active surface exposes it | order settings that could still conflict with current size, strategy, or market state |
Validate the order before you sign
- Confirm the symbol is currently supported.
- Confirm the price is a multiple of tick size.
- Confirm the amount is a valid minimum-size multiple.
- Check whether the order would keep post-trade margin safety intact.
- Recheck the current mark-price context when the order is intended to take liquidity quickly.
Submit with the right expectations
- limit orders can partially fill and leave a remainder on the book
- market orders can partially fill and reject the unmatched remainder when no more usable liquidity exists
- post-only orders that would cross should be rejected instead of quietly taking liquidity
- explicit limit prices stop the order before the market-order deviation guard would apply
If the order is rejected
- Read the exact rejection reason before rebuilding the order.
- If the failure is
PriceNotMultipleOfTickSizeorOrderAmountNotMultipleOfMinOrderSize, repair the order shape first. - If the failure is
MaxTakerPriceDeviationBreached, re-evaluate the current mark-price context and your intended aggression level. - If the failure is
OMFLessThanIMF, reduce size or improve collateral instead of resubmitting unchanged.