What’s new on Xena Exchange
Over the past few months, we’ve been working on a number of new features to make Xena Exchange even better and provide our customers with the best cryptocurrency trading experience. Let’s see what’s been updated and improved since our initial beta launch, including newly implemented platform features.
| Rebates for market makers and low fees for takers
Currently, all Xena clients are offered the lowest commissions in the industry: 0.03% for taker’s trades.
We are committed to attracting market-makers who use limit-type trading orders by offering rebates from paid commission on the exchange. Given this philosophy we are now offering all market makers a -0.03% maker’s rebate!
| Advanced Trading Orders: Trailing stop loss and Attempt zero-loss
By offering advanced trading orders we save traders time and money. If the price moves in your direction, orders will move automatically to keep the consistent distance from the market price. However, if the price reverses, the order will fire, close the position, and protect you from possible losses.
How to use Trailing stop loss order?
Consider you bought 10 BTC at 4,500 USD per Bitcoin with a trailing stop at 2%.
Initially, the stop price is equal to 4,500 * (100% — 2%) = 4,410. If the market goes up as you expected, the stop price of your order will follow. For example, if the price has grown to 4,800, the stop price of the order will be 4,704. However, if the market turns and the price decreases, the stop price will not change, and once the market falls below 4,704, your Bitcoin will be sold automatically.
Unlike many other trading platforms, trailing stop loss orders are handled on the server side on Xena Exchange. This means you do not have to keep your trading terminal working all the time in order for the trade to remain active.
Attempt zero-loss is a trailing stop that doesn’t move beyond the position opening price. For instance, if you sent a market order with an attempt zero- loss, and the order has been executed at 4,500, the stop price of your attempt zero-loss order will move from its initial value up to 4,500, but no further.
| Specialist Trading Orders: Fill-or-Kill and Immediate or Cancel orders
Fill-or-Kill (FoK) limit orders are orders that must be filled immediately, in their entirety and at the limit price or better, or they will be completely cancelled. There is no partial execution with this order type. There is also an option to specify Fill-or-Kill for market and stop orders.
Immediate-or-Cancel (IoC) is an instruction that an order (limit, market or stop) must be filled immediately; the unfilled portion of the order is then automatically cancelled. This order type allows partial filling.
| Stop Loss and Take Profit Orders
The basic idea of a stop loss is to place a sell order immediately after you bought an asset. This will close your position automatically in case the price moves in a non-favourable direction. Stop losses help manage risk and almost no professional trader will enter a position without utilizing a stop loss order.
Consider you bought 10 BTC for 4,200 USD and expect the price will move up to 4,700 USD per Bitcoin. You can place a Take Profit order with stop price 4,650. This will automatically sell your 10 BTC once the price reaches 4,650 USD per BTC.
Stop loss orders automatically close positions if the price goes in an unfavorable direction. In the previous example you could have placed a stop loss order with a price 4,000 USD per BTC to avoid unexpected losses.
Keep in mind that neither stop loss nor take profit orders guarantee the execution price, as when they fire they are executed as market orders and are prone to price slippage.
| Trend Power in the Trading Terminal
Trend power is here to serve you and make you a better trader. Quickly generate new trading ideas using our signals made with powerful technical indicators.
Trend power uses 3 technical indicators: Commodity Channel Index, Exponential Moving Average, and Relative Strength Index. All indicators are calculated in 5 different timeframe options: 5 minutes, 15 minutes, 1 hour, 2 hours, and 1 day.
| More Blockchain Integrations
To support a wider variety of digital assets on the exchange, we will continue to integrate other blockchains to allow for a wider range of cryptocurrencies on the exchange. We have recently added trading support for Litecoin (LTC), Ethereum Classic (ETC) and Bitcoin Cash (BCH). Now Xena Exchange allows to trading of six digital assets: BTC, ETH, BCH, ETC, LTC and USDT.
| Hotkeys
Speed is vital in trading. Hotkeys in Xena’s advanced web terminal allow you to switch order types, enter prices, and send orders without using a mouse.
For example, to open market order entry you can press the M shortcut, or, to open a stop order entry — use the T keyboard shortcut.
A full list of hotkeys can be found at the following link.
Setting up custom keyboard hotkeys is one of the things that save you a lot of time every day!
| Fast Price and Quantity Entry
This allows a user to more easily enter prices and quantities in our Trading Terminal. When focused on any price or quantity field use the following functions:
- Up and down arrows change the price or quantity by its minimal increment
- Alt + Up/Down changes the price by increments of 10
- Control (Command on Macs) + Up/Down change the price by increments of 100
- Shift + Up/Down change the price by increments of 1,000
| Reach and Fast Market Data and Trading APIs
Xena API allows you to automate your trading strategies. There are 3 different API endpoints:
- Web socket Market Data API
- Web socket Trading API
- REST Transfers API
The separation of trading and market data APIs allows users to increase the speed of delivery of the crucial trading information to API clients. Both APIs are based on the FIX protocol, that is the market standard on equity, FX, and money markets.
To create new keys for API usage, sign-in to your Xena account and navigate to the API Keys section.
| More than 60 performance optimizations and general usability improvements!
We hope you enjoyed these updates to Xena Exchange — look out for more features in the coming months!
Click here to open your account right now!
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Website: https://xena.exchange/
