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Is my order in Bybit exchange replaced if I create more than one in a contract?

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by COINS NEWS 90 Views

Does Bybit lack support for concurrent orders within the same contract? How does the system handle the scenario of initiating multiple orders, such as one leveraged at 5x, another at 1x, and a third at 3x, each at distinct price points? Is there a hierarchy where the latest order supersedes the preceding ones, or do all orders coexist independently? Understanding the dynamics of Bybit's order execution is pivotal for devising effective trading strategies. While the default stance is against simultaneous orders within the same contract, how does this change when each order relates to a different leverage setting? Can traders indeed place multiple orders, each with its unique leverage and entry price? Is there an automatic replacement or cancellation of prior orders when a new one is initiated, or do all orders persist until executed, canceled, or expired? This flexibility could empower traders to manage multiple positions concurrently, but does it necessitate vigilance to avoid unintended consequences stemming from multiple open orders? Essentially, does Bybit accommodate diverse trading strategies by allowing the coexistence of multiple orders with distinct leverages and entry points within a specified contract? This nuanced understanding could enable traders to navigate the platform strategically, optimizing their positions for diverse market scenarios, don't you think?

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