How to place a market order on dYdX exchange?
On dYdX Exchange, a market order is an order to buy or sell a perpetual contract at the best available price currently in the market. Market orders execute immediately, so it's crucial to understand how they work.
To place a market order, go to the trading screen and select the market order option. Enter the number of coins, US dollar amount, or leverage multiple you'd like to buy or sell. Review the trade details and fee, then click the green "Place Market Order" button. Your trade will be executed immediately and the completed order will appear in the filled orders tab.
If you are using leverage, be aware of the liquidation price, and consider using stop losses to protect from downside risk. To close your position, use the "Close Position" button on the trading screen. Using the close position button creates a market order. For larger volume trades or thinly traded markets, consider using limit orders.
Video glossary
Market Order
A type of order that allows the trader to buy or sell a perpetual contract at the current best available market price.
Market Price
The most recent price at which a contract was traded.
Leverage
Using borrowed money to trade larger quantities than your trading collateral.
Liquidation Price
The contract price at which an automated liquidation process will occur when using leverage.
Open Position
A trade that has been established, but not yet closed out with an opposing trade.
Unrealized Gain/Loss
The amount on paper that you are either up or down on a contract that you have purchased but not yet sold.
