Frequently Asked Question

ChainEX offers Accumulation and Distribution order types, allowing traders to schedule automatic buy and sell order placements based on the highest buy orders and lowest sell orders currently available on a market. This type of order ensures that traders' orders are in the best possible position on the order book as a buyer or seller, with trades being executed at the highest possible price for selling or the lowest possible price for buying.

By specifying the desired amount of a coin to be bought or sold, Accumulation and Distribution orders can be fully customized according to traders' needs and desired outcomes through various other settings specified on placement. These orders will continue to place orders automatically until the specified amount has been reached through trades on the placed orders. Experience the convenience of automatic order placement with Accumulation and Distribution orders on ChainEX.

How Accumulation and Distribution orders work.

The functionality of Accumulation/Distribution orders is dependent on the parameters you set during placement and market fluctuations resulting from the trading activities of other users. Here are the various settings and scenarios that could affect order placement:

The following settings and combinations thereof can be specified on placement:

• Price Change - Defines by how much the price of each new order placed should increase or decrease.
• Above Highest bid/lowest ask - Order will be placed above the current highest bid or lowest ask price in the order book at the incremented price change specified.
• Below Highest bid/lowest ask - Order will be placed below the current highest bid or lowest ask price in the order book at the incremented price change specified.
• Use Buy/Sell order price - Order placements and other settings will be based on current prices of the opposite order type, i.e. for Distribution orders, prices will be based on current Buy orders and Accumulation orders will be based on current Sell orders. If this is not activated, prices will be based on order book prices of the same order type, e.g. Distribution order prices will be determined by current Sell orders in the order book.
• Buy from Buy/Sell orders - Orders that will result in a trade will be placed, if this is not active, no orders will be placed, which will result in a trade but new orders placed after it may match against it.
• Order placement amount - Amount at which each new order will be placed.
• Maximum/Minimum Buy/Sell price - Maximum(Buy)/Minimum(Sell) price at which orders will be placed, i.e. once an order placement has reached this price subsequent orders will be placed at the same price once traded and not be increased/decreased.
• Total Amount to Buy/Sell - Total Amount of a coin that you wish to buy/sell, once this amount has been reached the Accumulation/Distribution order will be stopped.
• Seconds between Order Placement - The time between order placement.

The following requirements relating to the settings above apply:

• Either the above or below highest bid/lowest ask options should be selected on placement.
  
• A price change amount should be specified on placement.
• An order placement amount should be specified on placement.
• A maximum price should be specified on placement.
• The order placement amount multiplied by the maximum buy/sell price should be higher than 0.0001.
• Seconds between order placement amount of higher than 10 seconds and lower than 1 hour should be specified on placement.

The following general rules apply to the placement of orders through Distribution and Accumulation order types and interactions with markets exist:

• Only one Distribution or Accumulation order can be active per market, i.e. you can not have a Distribution and Accumulation order active at the same time on the same market or have more than one Distribution or Accumulation order active either on the same market.
  
• The process will be canceled once you have run out of balance and new orders cannot be placed.
• The process will aim to only have one active order at a time, i.e. once it places a new, better-positioned order than a previous one, the previous order will be canceled.
• Relative to the above, new orders will not be placed at new prices if the user's current active order already holds the best possible position based on their specified settings. The process will, therefore, be paused until something in the market happens which results in them no longer having the best position.
• The process will be canceled once you have obtained or sold your desired amount of coins.

PLEASE NOTE: When placing a Distribution or Accumulation order on our cryptocurrency exchange, the system will automatically execute trades on your behalf based on the settings you specified until your desired amount has been bought or sold. It is crucial to ensure that your settings are accurate before placing these orders as we are unable to refund or cancel any live trades or orders resulting from them. To fully understand these order types and receive further assistance, we recommend reading through the following topics in addition to this one.

Distribution and Accumulation order examples - Provides examples of an Accumulation and Distribution process and illustrates how specified settings and market situations influence the order placement process.

How to place a Distribution or Accumulation order - A tutorial on how to place these orders.

How to cancel a Distribution or Accumulation order - A tutorial on how to cancel these orders.