What Is Trigger Order?

Definitions

A trigger order is a kind of order with a preset order price and trigger condition. When the las t price reaches the trigger price, the system will place an order at the preset order price. Trigger orders allow you to preset your buying and selling price so that you can automatically take profit (TP) or stop loss (SL) without the hassle of monitoring the market.

Trigger price: When the Last Price reaches the Trigger Price, the order will be triggered to be placed at a preset order price and be pending for transaction.

Buying price or Selling price: The price you will buy or sell. When a trigger order is triggered, it will be placed at the preset order price, which may take the form of a limited order or a market order.

Quantity: The Order Quantity when the order is triggered.

Scenarios

Scenario 1 - If you want to stop loss

Suppose you are trading BTC/USDT. You purchase 10 BTC at the price of 5764 USDT, and the price is estimated to find support at 5615.4 USDT. If it breaks below the support level, it might keep dropping. Therefore, if you want to stop loss at the price of 5615.4 USDT, you can preset a Trigger Price of 5615.4 USDT, with the Selling Price being 5591.1 USDT and the Quantity being 10 BTC, and click "Sell BTC". Then the order will be triggered when the price falls to 5615.4 USDT and be placed as a limit order with a Selling Price of 5591.1 USDT.

Scenario 2 - If you want to buy at the bottom price

Again, suppose you are trading BTC/USDT. The current price is 5900 USDT and is estimated to find support at 5615.4 USDT. If it breaks below the support level, it might keep dropping. Considering that the lowest price in the last three months is 5300 USDT, you want to buy BTC when the price falls to anywhere near 5300 USDT. Therefore, you can preset a Trigger Price of 5615.4 USDT, with the Buying Price being 5350 USDT and the Quantity being 10 BTC, and click "Buy BTC". Then the order will be triggered when the price falls to 5615.4 USDT and be placed as a limit order with a Buying Price of 5350 USDT.

Scenario 3 - If you want to take profit (TP)

Still, suppose you are trading BTC/USDT. You purchase 10 BTC at the price of 5764 USDT, and the price is estimated to find support at 6000 USDT. If it breaks through the support level, it might experience a correction. Therefore, if you want to take profit at the price of 6000 USDT, you can preset a Trigger Price of 5980 USDT, with the Selling Price being 6000 USDT and the Quantity being 10 BTC, and click " Sell BTC". Then the order will be triggered when the price climbs to 5980 USDT and be placed as a limit order with a Selling Price of 6000 USDT.

When your trigger order fails, you can check in the History Orders to see why.

Notes

- You could only place a trigger order when the transaction is available.
- Your order quantity must meet any limit requirement applicable to your type of trigger order.
- Your asset will not be frozen before the trigger order is triggered. It will only be frozen when the trigger order is triggered, and an order based on the preset price and quantity is placed.
- A trigger order may fail to be placed due to price limit, order quantity limit, insufficient balance, the non-transaction status of the order, network issues, or system issues.
- When the trigger order is triggered, it will be placed at the preset order price. However, if the order price goes beyond the price limit (buying price is 10% higher than the last price or the selling price is 10% below the last price), the order will fail to be placed.
- When a trigger order is successfully triggered as a limit order, it will be placed at the preset order price but may not be executed. A limit order means when the selling price is lower than the market price, or the buying price is higher than the market price, it will be traded at the best price available. Please note that a limit order is not guaranteed to execute and is entirely dependent on the prevailing market conditions.

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