This paper proposes a dynamic-decision-based realtime dispatch method to coordinate the economic objective with multiple types of security dispatch objectives while reducing constraint violations in the process of adjusting the system operation point to the optimum. In each decision moment, the following tasks are executed in turn: ① locally linearizing the system model at the current operation point with the online model identification by using measurements; ② narrowing down the gaps between unsatisfied security requirements and their security thresholds in order of priority; ③ minimizing the generation cost; ④ minimizing the security indicators within their security thresholds. Compared with the existing real-time dispatch strategies, the proposed method can adjust the deviations caused by unpredictable power flow fluctuations, avoid dispatch bias caused by model parameter errors, and reduce the constraint violations in the dispatch decision process. The effectiveness of the proposed method is verified with the IEEE 39-bus system.