Volume of a crypto trade refers to the total quantity of coins or contracts exchanged between buyers and sellers.
There are multiple ways in which users can specify trade volume for all the supported order types. Base Volume, Quote Volume, Relative Volume. Each option has its own set of pros and cons and suitability depending on factors like order side, volume predictability, multiple orders sharing same volume, etc. We support these Volume options for each of the available order type and do the internal conversion from base to quote or vice versa as required.
We will try to describe each one with relevant examples.
Quote Volume is mostly used in sell Side orders. Let’s take the example of BTC-STX pair as shown in the picture. Quote volume is used when a trader knows beforehand how much Quote coin he wishes to buy/sell (STX). To select Quote volume click on the dropdown attached to Quantity input and select quote coin from the option (STX). Most often a trader is aware of Quote volume when he is trying to Sell a coin in spot trading.
Eg. If I know I have 50 STX in my balance then I can mention 50 STX in quote volume in a Take Profit or OCO order.
Base volume is used mostly in buy side orders where a trader is not aware of how much quote coin he/she can buy with the available funds. Eg. Lets say you wish to trade BTC-STX pair. You have 0.5 BTC in your wallet and you wish to place a trailing buy or a stop buy order but you can’t say how much STX you can buy using 0.5 BTC so you select BTC from dropdown of quantity input and place a trailing buy order. Then at the time of final execution when a trailing offset is hit and a market buy order is triggered by Trailing buy algorithm. System will calculate the volume of STX equivalent to 0.5 BTC at that time using the latest available price.
Relative volume is a very handy feature when you don’t know how much base or quote coins you may have at the time stop price will be hit (final execution). Relative volume can be toggled by using the percentage (%) button attached to the right side of quantity input.
Eg1. Let’s say you are trading BTC-STX pair, You want to sell all of the coins when a trailing stop sell is hit then Select STX from dropdown then click on percentage icon (blue means active) and input 100. Then at the time of final execution of market sell all the available STX in your wallet will get sold.
Eg2. Let’s say you want to buy Max possible STX based on available BTC balance at the time of final execution of a trailing buy order. Then from quantity dropdown select BTC and then click on percentage icon and enter 100. It means when this trailing buy order crosses it’s defined offset it will buy STX equivalent to 100% of available BTC.
Auto Fill shortcuts:
10%, 25%, 50%, 75%, 100%. These are shortcut buttons at the bottom of order form to quickly fill quantity input based on the available balance in a users exchange wallet. These shortcut buttons should not be mistaken with Relative Volume.
Auto Adjustment on error:
To avoid INSUFFICIENT_BALANCE error due to minor difference in trade volume and available balance. We imployed a retry mechanism in which order is retried with a little less volume using backoff multiplier 2/3 times.
Retry Volume = original_volume * Math.pow(0.998, retry_count);
OSO – Auto Volume:
Automatically set Trade Volume of Secondary Order based on Primary Order in Custom OSO order. Sometimes we don’t know before hand how much volume to put in secondary order due to the variable nature of primary order. So selecting Auto Volume in OSO secondary order will override secondary order volume with the final trade volume from primary order. This will solve issues like INSUFFICIENT_BALANCE error due to fees deduction in primary order by the exchange.
Eg. Trailing Stop Buy + OCO. Select auto volume to true in OCO to make sure whatever amount it bought on trailing buy it should sell that much only in OCO order.