Short Block - This is the block of orders to take a short position in the drift markets.
Block configuration
In the block parameters you can configure the type of order and the amount you want to allocate to this position.
First of all, you will be able to define the amount of funds you want to allocate to the short position. This amount is expressed as a percentage of the strategy's current capital.
Example: If your strategy currently manages $300, a SHORT 50% will allow you to take a short position with $150 margin.
In the Basic Settings you can also select the type of orders to be sent to the exchange:
- Market orders, which allow you to take a position "no matter what it costs".
- Limit orders, which allow you to take a position at a fixed price.
Limit orders have more than 3 modes:
The "Block price" mode: mode that allows you to take a position at the price of the asset at the moment the block is triggered
For example: "Takes a short position on BTC at the current price
- The "Custom Price" mode: mode that allows you to take a position at a pre-determined price.
For example: "Take a short position on BTC at $17,000". - The "Deviation" mode: mode that allows you to take a position at a price deviated by X% from the current price.
For example: "Take a short position on BTC at current price -0.5%".
The "Advanced Settings" tab allows you to set the lifetime of your order. An order can be valid until its completion or it can have a validity period.
- Valid "until completed" means that the block will wait indefinitely for the order to be completed before moving on.
- Valid "until expiry" means that the order will have an expiration date. This means that if the order is not fully completed by the end of its validity period, it will be aborted and the strategy will continue.
Note : it is possible to tell your strategy to change its behavior in case of expiration, for example to execute a particular action, to repeat the purchase, to take another path etc... To do this, select a failover block by clicking on the small viewfinder and selecting the desired block.
Help to visualize
You can press the "F" key to display the paths of the links in case of expired orders (failover).
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Happy Trading,
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