Reduce Only...

09 October 2019

Being able to place orders that can only reduce your position size is super useful, especially for closing positions. The automated trading bot supported this for limit orders and used it for stop loss orders, but now there is more...

The reduceOnly option has been added to a host of new order types. It works on exchanges that support reduce only order (Deribit and BitMEX). Other exchanges simply ignore this option.

Orders now supporting reduceOnly

and of course it's been a feature of limit orders for a while now. Stop orders (like stopMarket ) also use reduce only orders.

See the docs for more details.

Some images from Unsplash

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