Open a position is also called create an order, which means that a trader newly buys or sells a certain number of contracts.

Open a position is divided into open a position on current market price and open a position in limit orders.

Open a position on current market price refers to the trader BUY/ SELL at the current market price.

Limit order refers to the trader setting an estimated price to open a position

Buy limit: Buy at a certain distance from the current price. When the price reaches the predetermined price, the pending order will be executed automatically;

Sell limit: Sell at a certain distance from the current price. When the price reaches the predetermined price, the pending order will be executed automatically.