Some futures users may encounter failure when trying to open or close a position. The following causes are usually responsible for the failure of placing an order:
Opening a position:
- Check if there is sufficient balance in your futures account, if there isn’t, you will be notified “Transfer fund first”. This can be solved by reducing the number of positions, increasing leverage or transferring funds.
- The contract dictates the number of entries in the order book to be between 1 and 1,000,000, and the amount of currency to be in the corresponding range.
- “Reduce-Only” is selected under “Conditional Order” when there are no positions left. Failure occurs to avoid scaling in.
- Order price exceeds the maximum tolerable deviation ratio of the set order price.
- When the liquidation price exceeds the last mark price, the liquidation will be triggered immediately after the position is opened.
Closing a position:
- No margin is needed for closing a position. However, margin is required when you have a “Close on trigger” order and want to submit another “Take-Profit/Stop-Loss” order or another “Close on trigger” order. When there is no sufficient balance left in the account to cover the margin, failure to place an order will occur.
- In the scenario described in the previous point, if a “Close on trigger” order is filled, the position is then closed. The other closing order (“Take-Profit/Stop-Loss” or other), due to its “Reduce Only” setting, is going to fail to avoid scaling in.
- The order price exceeds bankruptcy price.
Gate reserves the final right to interpret the product.
