RT
@JalalResearch: 𝙒𝙀𝙇𝘾𝙊𝙈𝙀 𝙏𝙊 𝘿𝘼𝙔 11 𝙊𝙁 𝙊𝙐𝙍 30 𝘿𝘼𝙔𝙎 𝙊𝙁 𝙋𝙊𝙇𝙔𝙀𝙎𝙏𝙀𝙍! 🔥
Ever clicked BUY and wondered what happens before your order becomes a trade? 👀 Welcome to Day 11 of our Polyester lesson series, where we break down the product piece by piece. Today we're exploring 𝙏𝙍𝘼𝘿𝙀𝙎 𝘼𝙉𝘿 𝙁𝙄𝙇𝙇𝙎, where your order starts turning into an actual execution!
An order is your instruction to buy or sell. A fill is the quantity that actually executes when it matches an eligible opposing order. So clicking BUY doesn't mean you've bought the asset already. Your order must pass the necessary checks and find a match first.
⚙️ 𝙃𝙊𝙒 𝘿𝙊𝙀𝙎 𝙄𝙏 𝙒𝙊𝙍𝙆?
@polyester uses 𝗣𝗼𝗹𝘆𝗘𝗻𝗴𝗶𝗻𝗲 to process orders and match eligible buyers and sellers. Think of it as the engine room turning your instruction into an execution. The system checks your account, available balance and market rules before matching begins. Better prices get priority and when prices are equal, earlier eligible orders go first. No cutting the queue! 😂
Imagine you're buying 1 BTC with a limit price of 100,000 USDT. Seller A offers 0.3 BTC at 99,800, Seller B offers 0.4 BTC at 99,900 and Seller C offers 0.3 BTC at 100,000. If all are eligible, your ONE order can produce THREE fills at different prices. You receive 1 BTC for 99,900 USDT in total before fees. That's why your average execution price can differ from your limit price. One order, multiple fills. BOOM! 💥 After each fill, settlement records the asset exchange and applicable fees.
🤯 𝙒𝙃𝘼𝙏 𝙄𝙁 𝙊𝙉𝙇𝙔 𝙋𝘼𝙍𝙏 𝙊𝙁 𝙔𝙊𝙐𝙍 𝙊𝙍𝘿𝙀𝙍 𝙁𝙄𝙇𝙇𝙎?
Say you ordered 1 BTC but only 0.35 BTC executes. That's a partial fill, leaving 0.65 BTC unfilled. Depending on the order instructions, the remainder may stay open or be cancelled. GTC can remain active, IOC cancels what can't execute immediately and FOK requires the whole order to execute immediately or cancels it. Market orders follow applicable price protection. Cancelling the remainder does NOT reverse fills that already happened!
Maker and taker roles matter too. A maker order was already resting on the order book when matched; a taker order consumes existing liquidity. One order can have both types of fills, which may affect fees.
👀 𝙒𝙃𝙀𝙍𝙀 𝘿𝙊 𝙔𝙊𝙐 𝘾𝙃𝙀𝘾𝙆?
Market Trades shows public executions across a market, while your personal Trades and Fills show executions attributed to your account. Open Orders tracks active orders, Order History shows how orders ended and Order Details connects an order to its fills. Funds helps you understand your balance and reserved amounts.
Understanding fills helps you review execution prices and fees, recognise partial fills and investigate your activity instead of guessing. Polyester brings these tools together in one trading workspace, connecting market analysis, order management and execution review. If you haven't explored it yet, sign up and see the features for yourself. Seeing is believing! 🔥
❤️ 𝘈 𝘉𝘐𝘎 𝘛𝘏𝘈𝘕𝘒 𝘠𝘖𝘜 𝘛𝘖 𝘛𝘏𝘌 𝘗𝘖𝘓𝘠𝘌𝘚𝘛𝘌𝘙 𝘍𝘖𝘜𝘕𝘋𝘌𝘙 𝘈𝘕𝘋 𝘛𝘌𝘈𝘔
Building a trading platform takes vision, patience and serious engineering. I genuinely appreciate the
@tristanchaudhry and
@polyester team work to make complex trading tools more connected and easier to understand. Thank you for giving users and researchers something meaningful to explore. May your hard work keep bearing fruit and may the team grow stronger with every challenge. Keep building, bro. We're excited to see how far this journey goes! 🫡❤️🔥
𝙅𝘼𝙇𝘼𝙇 𝙍𝙀𝙎𝙀𝘼𝙍𝘾𝙃 ✍️