What Are "Total Order Volume" and "Filled Volume"?
In historical order details, Total Order Volume and Filled Volume are interconnected concepts that reflect trading execution dynamics.
- Total Order Volume: The expected quantity set when placing an order.
- Filled Volume: The actual quantity executed in the market.
These metrics help traders assess order completion status and market liquidity. Below, we break down their significance in trading strategies.
Key Differences and Practical Implications
Purpose
- Total Order Volume: Represents trader intent (e.g., "I want to buy 10 BTC at $50,000 each").
- Filled Volume: Indicates real-world execution (e.g., "Only 7 BTC were available at my target price").
Market Conditions
- Liquid markets often show minimal gap between these values.
- Illiquid or volatile assets may have significant disparities due to slippage.
Trading Scenarios Explained
Scenario 1: Partial Fills
👉 Example: Buying ETH during low liquidity
- Order: 100 ETH @ $3,800 (Total Volume).
- Result: 65 ETH filled (Filled Volume) due to insufficient sellers.
Scenario 2: Immediate Execution
- Order: 5 BTC @ market price.
- Result: 5 BTC filled instantly (typical for high-liquidity pairs).
FAQs
Q1: Can my Total Order Volume exceed Filled Volume indefinitely?
A: Yes, until order expiration or manual cancellation.
Q2: How does this affect limit vs. market orders?
A: Limit orders may remain partially filled; market orders prioritize speed over price precision.
Q3: Why is tracking both metrics important?
A: Identifies execution quality and informs future strategy adjustments.
Pro Tips for Traders
- Monitor Liquidity: Check order books to estimate fill likelihood.
- Use Time-in-Force: Set "Good-Til-Cancelled" or "Immediate-or-Cancel" clauses.
- Adjust Slippage Tolerance: Especially for large orders.
👉 Explore advanced order types to optimize execution.
Disclaimer: Trading digital assets involves risk. This content is informational only and not financial advice.
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