FAQs & Troubleshooting
Addressing common questions and issues in OMNIS
Limit Orders & OMNIS
Q: What is a limit order in OMNIS?
A: A limit order in OMNIS is a type of order where you specify the exact price at which you want to buy or sell an asset. Unlike market orders, limit orders are executed only when the asset reaches your specified price.
Q: How do I set a limit order in OMNIS?
A: To set a limit order in OMNIS, first analyse the market price and decide on your order price. Then, enter this price into OMNIS, adjust your slippage settings if necessary, and confirm your order.
Understanding Slippage
Q: What is slippage in trading?
A: Slippage refers to the difference between the expected price of a trade and the actual execution price. It often occurs in volatile markets or when large orders are placed.
Q: How can I manage slippage in OMNIS?
A: You can manage slippage in OMNIS by setting a slippage percentage that reflects your risk tolerance and the current market conditions. Higher slippage can increase the likelihood of order execution but may lead to less favourable prices.
Trading Strategies
Q: What are some basic swing trading strategies in OMNIS?
A: Basic swing trading strategies in OMNIS include analysing market trends to set strategic entry and exit points, managing risks with stop-loss orders, and adapting your strategy to changing market conditions.
Q: How important is market analysis in swing trading?
A: Market analysis is crucial in swing trading as it helps identify potential trading opportunities and informs decisions on entry and exit points. It involves studying price trends, volumes, and other market indicators.
Fees
Q: What is the fee model for OMNIS?
A: OMNIS operates on a flat-rate fee model. This means that a consistent fee rate is applied across all tools and transactions on the platform.
Q: How much is the fee charged by OMNIS?
A: The flat-rate fee charged by OMNIS is 0.29% for all transactions, including swaps and limit orders.
Q: Are there fees for limit orders on OMNIS?
A: Yes, limit orders on OMNIS incur the standard 0.29% fee. This fee applies whether the order is successful, cancelled, fails, or expires.
Q: What happens to the fees if a limit order is cancelled or expires?
A: If a limit order is cancelled or expires, the 0.29% fee is still incurred. This is part of OMNIS's flat-rate fee model for all transactions.
Q: Are gas and protocol fees refundable on OMNIS?
A: No, all gas and protocol fee costs on OMNIS are non-refundable. These fees are part of the transaction costs and are not returned regardless of the transaction outcome.
Q: Does OMNIS charge different fees for different tools?
A: No, OMNIS maintains a uniform fee structure. The flat-rate fee of 0.29% applies across all tools and services on the platform.
Q: How does the flat-rate fee model benefit users?
A: The flat-rate fee model provides transparency and predictability in transaction costs. Users can easily calculate the fees for any transaction, knowing that the rate remains consistent across the platform.
Risk Management
Q: What are key risk management strategies in trading with OMNIS?
A: Key risk management strategies include setting realistic trading goals, using stop-loss orders to limit potential losses, diversifying your portfolio, and regularly reviewing your trades to learn from past outcomes.
Q: How can I balance risk and reward in my trading strategies?
A: Balancing risk and reward involves setting realistic profit targets, understanding your risk tolerance, and carefully evaluating each trade setup for potential upsides and downsides.
General
Q: Can I modify or cancel a limit order in OMNIS once it's set?
A: Yes, you can modify or cancel a limit order in OMNIS before it's executed. This flexibility allows you to adjust your strategy as market conditions change.
Q: Where can I find more information on using OMNIS for trading?
A: More information on using OMNIS for trading can be found in the detailed guides and tutorials on the TETRA Learn Hub site, as well as in the OMNIS user manual and support resources.
Troubleshooting
Q: What should I do if my limit order in OMNIS is not being executed?
A: If your limit order isn't executing, check if your set price aligns with current market trends. Also, ensure that your slippage settings are appropriate for the market's volatility. If the market price hasn't reached your set limit, the order will not execute.
Q: Why am I seeing discrepancies in the expected and actual execution prices of my trades?
A: Discrepancies can occur due to slippage, especially in volatile markets. Review your slippage settings and adjust them according to the market conditions and your risk tolerance.
Q: What steps should I take if OMNIS is not updating market prices accurately?
A: First, try refreshing the platform. If the issue persists, check your internet connection and ensure that there are no server issues from OMNIS's end. If problems continue, contact OMNIS Admin for assistance.
Q: What should I do if OMNIS is running slowly or crashing?
A: Check your internet connection speed first. If your connection is stable, try clearing your browser's cache or using OMNIS on a different browser or device. If the problem continues, it might be an issue with the OMNIS servers, in which case waiting or contacting support is advisable.