One parameter that many traders find gives them more flexibility is the "userref" parameter. Adding this to your orders can help with the following tasks:
1. Adding a userref to your orders can make cancelling your orders much easier. It can be passed as the "txid" for a "CancelOrder" call, allowing you to cancel certain, or all orders at one time.
2. For traders utilizing multiple trading strategies, assigning a different userref to different strategies can be useful for bookkeeping purposes, or to help identify which strategy is most profitable. While we don't currently offer subaccounts, this is used by many traders in lieu of that.
3. The userref parameter is also useful for checking that your orders have been successfully placed. Although it is rare, there are times where our API might be less responsive than we'd like. In this case, adding a userref to your orders, and then querying the "OpenOrders" endpoint with the same userref will allow you to ensure your order has been placed as intended.