Contract trading is equivalent to leveraging your investments and is an important way to achieve wealth growth, but it also comes with significant risks. After reading this, you may have a deeper understanding of contract trading. Limit Order: You can place an order at a specific price or better. If the price meets or is lower than your limit, a limit buy order will be executed; if the price meets or is higher than your limit, a limit sell order will be executed. Please note that limit orders do not guarantee execution. Market Order: A market order refers to an order that is matched immediately at the current market's best price. The execution price of a market order is the limit price in the order book, so slippage may occur, meaning the execution price may differ from the expected price. Limit Take Profit/Stop Loss Order: This is a conditional order within a certain time frame that executes at a specific price once the preset take profit or stop loss price is reached. Once the take profit or stop loss price is reached, it will trade at the set limit price or better. Market Take Profit/Stop Loss Order: Similar to the limit take profit/stop loss order, the market take profit/stop loss order also uses the take profit and stop loss price to trigger a trade. The difference is that when the take profit or stop loss price is reached, a market order will be triggered. Trailing Stop Order: This allows traders to preset orders within a specific percentage price range of the market price during market fluctuations. As long as the price continues to move in a favorable direction for the trader, the trailing stop order can maintain the opening position and continue to profit, thus locking in gains. Please note that trailing stop orders do not reverse direction. When the price moves in the opposite direction by the specified percentage, the order will be executed at the market price. Maker Only Order: After placing a maker only order, the order will be added to the order book but will not be executed immediately. A maker only order will act as a pending order, adding liquidity to the order book. Limit Take Profit/Stop Loss Order (Strategy Order): When opening a contract position, you can check the checkbox next to the take profit/stop loss option to set the take profit or stop loss price. Depending on the trading strategy, you can choose to trigger the order based on the 'latest price' or 'mark price.' Reverse Order: This refers to closing an existing position while simultaneously opening a new position in the opposite direction with the same amount. The reverse order will be executed as a market order. With a reverse order, you can effectively 'reverse' your current position in the market and respond quickly to market changes. Segmented Orders: Multiple limit orders will be automatically generated within a specified price range. This type of order helps manage a large volume of orders. Segmented orders will split the orders into multiple sub-orders and place them separately without significantly impacting the market. Segmented orders are typically used to achieve a better average price for opening or closing positions. Conditional Orders: Traders can set the trigger price as the mark price or latest price, and set the take profit and stop loss prices as limit, market, or best price. TWAP Orders: Typically used to split large orders into several smaller orders, executed at fixed intervals over a specified time to minimize the impact of large orders on the market.