Documentation Index
Fetch the complete documentation index at: https://docs.predictamarkets.com/llms.txt
Use this file to discover all available pages before exploring further.
Order Types Overview
Understanding order types helps you trade more effectively on Predicta. The two main types are limit orders and market orders.Limit Orders
Limit orders let you set a specific price you’re willing to pay (buy) or accept (sell).How Limit Orders Work
- Set Your Price: Specify the maximum price you’ll pay to buy, or the minimum you’ll accept to sell
- Order Book: Your order enters the order book at your specified price
- Matching: The order only fills when someone matches your price
- Partial Fills: May fill partially if only some shares are available at your price
Advantages
- Better Prices: You control your entry or exit price
- No Surprises: You know exactly what you’ll pay or receive
- Passive Strategy: Set your order and wait
Disadvantages
- May Not Fill: If the price moves away, your order may never execute
- Patience Required: You may need to wait for the market to come to you
When to Use Limit Orders
- You have a target price in mind and can wait for it
- You want to buy at a price lower than the current market
- You want to sell at a price higher than the current market
Market Orders
Market orders fill immediately at the current market price.How Market Orders Work
- Immediate Execution: Fills right away at the best available price
- No Price Control: You accept whatever the market is currently offering
- Guaranteed Fill: Always executes as long as there’s liquidity
Advantages
- Speed: Instant execution
- Certainty: Guaranteed to fill in active markets
- Simple: No need to choose a price
Disadvantages
- Price Risk: You may pay slightly more (buying) or receive slightly less (selling) than expected
- Less Control: You don’t set the price
When to Use Market Orders
- You need to get in or out of a position immediately
- The market is moving fast and you need to act now
- The exact price difference doesn’t matter much
Order Matching
How the Matching Engine Works
Predicta’s matching engine pairs compatible buy and sell orders:- Price Compatibility: A BUY order matches a SELL order at compatible prices
- Cross-Side Matching: BUY YES can also match with BUY NO at complementary prices
- Price Priority: Better-priced orders match first
- Time Priority: At the same price, earlier orders match first
The Order Book
The order book shows all pending orders:- Buy Orders: People wanting to buy at various prices (bids)
- Sell Orders: People wanting to sell at various prices (asks)
- Best Prices: The highest bid and lowest ask
Order Status
OPEN
Order placed and waiting to be matched. Funds are reserved in suspense. Can be cancelled.PARTIAL
Some shares matched; the rest are still waiting. Funds for the filled portion have moved. You can cancel the remaining portion.FILLED
All shares matched — trade complete. Funds moved, shares added to (buy) or removed from (sell) your portfolio.CANCELLED
Order removed from the book. Funds returned from suspense to your available balance immediately.Order Strategies
Limit Order for Entry
- Set a limit price below the current market price
- Wait for the price to come to you
- Cancel if the price moves away and you no longer want to enter
Market Order for Exit
- You want to exit a position quickly
- Use a market order for immediate execution at current price
- Lock in profit or limit losses without waiting
Layered Limit Orders
- Place multiple limit orders at different price levels
- Some may fill, others may not
- Averages your entry price across fills
Best Practices
- Limit orders: Set realistic prices based on current market conditions; monitor and adjust if the market moves significantly
- Market orders: Check the current price before placing — understand what you’ll likely pay or receive
- Both types: Start with small orders while learning; don’t place too many open orders at once
Order Cancellation
When to Cancel
- Price has moved away from your limit and you no longer want to fill at that price
- Your trading thesis has changed
- You want to replace the order at a different price
How to Cancel
- Go to the Orders page
- Find your open order
- Click “Cancel”
- Funds immediately return to your available balance
You can only cancel orders that haven’t been filled. Once filled, trades are final.
Next Steps
Trading Strategies
Learn advanced strategies using different order types.
View Your Orders
Learn how to track and manage your orders.