# Trading and orders

> Placing, matching, cancelling and closing orders, and full collateralization.

Source: https://help.sportsxapp.com/us/trading/trading-and-orders/

## How do I place an order?

Select a contract, review its terms, and enter the order direction, price, and number of contracts. Review your order before submitting it. An order becomes a trade only when it is matched and executed.

## What is a limit order?

A limit order specifies the highest price you are willing to pay to buy or the lowest price you are willing to accept to sell. An order may execute at that price or a better price. Execution is not guaranteed.

## How are orders matched?

Orders on the central limit order book are generally matched first by price and then by time. Orders at better prices take priority. At the same price, earlier orders take priority, subject to the Rulebook.

## Why hasn’t my order executed?

There may be no matching order at your price, or other orders may have priority. A market may also be closed or halted, or an account restriction may prevent activity. Check the order status before submitting another order.

## Why was my order only partially filled?

There may have been enough matching interest to fill only part of your order. Under the standard order book process, the remaining quantity stays open at your limit price until it executes, is canceled, or otherwise expires under the rules.

## Can I cancel an order?

You may request cancellation of the unexecuted portion of an order. An order can execute before the cancellation is processed. Check for confirmation. Canceling an open order does not reverse a trade that has already been executed.

## Can I close a position before settlement?

You may submit an offsetting order while trading is available. Closing depends on matching interest and the applicable rules. You may be unable to close when you want, and the price may produce a loss.

## What does fully collateralized mean?

You must have sufficient cash in your account to cover the maximum loss on a position. The Rulebook does not allow positions with exposure exceeding the funds deposited in the relevant member account. Full collateralization does not eliminate trading risk.

## When can I trade?

The Rulebook provides for trading outside maintenance windows, but individual contracts have their own trading deadlines. Markets may also be paused or halted. Review each contract’s trading times and Exchange notices.