Forced Order (forceOrder)
An order placed by the exchange, not the trader. It is the automatic closure of a position that ran out of margin.
When a leveraged position's loss approaches its margin, the exchange risk engine takes over and closes it with a forced order (published on Binance Futures via the !forceOrder channel). A SELL order means a long was liquidated, a BUY order a short. The public forceOrder stream is the closest thing to raw liquidation data: each entry carries the pair, side, price and quantity. Note: since 2021 Binance reports at most one order per second per symbol, so totals can be understated.
In plain words
It is the exchange's 'bailiff': when your leveraged position loses too much, the exchange sells it for you. The stream of such orders shows live where the market is flushing out leveraged traders.
Example
The Liquidations Live widget shows: BTC, Long, $2.3M, 14:32:05. That is a forced SELL order from the !forceOrder channel, as someone's $2.3M BTC long was just liquidated.
Also known as: forceorder, force order, zlecenie przymusowe, примусовий ордер