What is Trigger Order?

A Trigger Order refers to setting a pre-determined trigger price and conditions for executing an order. When the market price reaches the trigger price, the system will automatically place the order at the specified price. This allows you to trade without constantly monitoring the market, plan buy and sell levels in advance, and helps you lock in profits or limit losses, achieving automatic take-profit and stop-loss goals.

 

Definitions:

• Trigger Price: When the "Latest Price" reaches the set "Trigger Price," the order is activated and placed at the designated order price in the market to await execution.
• Buy or Sell Price: The buy or sell price specified in the order. Once the Trigger Order is triggered, the system will place the order at the specified price, which can be either a limit price or market price.
• Quantity: The "order quantity" to be placed once the order is triggered.

 

when the user wants to set a stop-loss:

For example, with BTC/USDT, the user purchases 1 BTC at a price of 95,764 USDT, and expects 92,523.80 USDT to act as a support level. If the price falls below this support level, the price might continue to drop. The user wishes to set a stop-loss at 92,523.80 USDT. In this case, the user can set the "Trigger Price" at 92,523.80, the "Sell Price" at 92,223.80, and the "Sell Quantity" at 1 BTC. When the price reaches 92,523.80 USDT, the system will trigger the order and place a limit order at the "Sell Price" of 92,223.80 USDT.

 

When the user wants to buy at the bottom:

For example, with BTC/USDT, the current price is 96,000 USDT, and based on the analysis, the user expects the price to continue falling, with 94,000 USDT acting as a support level. If the price breaks this level, it might continue to drop. Looking at historical data, the lowest price in the past 3 months was 91,000 USDT. The user wants to buy BTC around the 91,000 USDT level. In this case, the user can set the "Trigger Price" at 94,000 USDT, the "Buy Price" at 91,000 USDT, and the "Buy Quantity" at 1 BTC. By clicking "Buy BTC," once the price drops to 94,000 USDT, the system will trigger the order and place a limit buy order at 91,000 USDT.

 

When the user wants to take profit:

For example, with BTC/USDT, the user purchases 1 BTC at 90,000 USDT, expecting the price to find support at 96,000 USDT. If the price rises to the support level, it might experience a pullback. The user wishes to set a take-profit at 96,000 USDT. The user can set the "Trigger Price" at 95,500 USDT, the "Sell Price" at 96,000 USDT, and the "Sell Quantity" at 1 BTC. By clicking "Sell BTC," once the price rises to 95,500 USDT, the system will trigger the order and place a limit sell order at 96,000 USDT.

 

 

Please note:

1. Trigger Orders can only be placed when the user’s account is in an active trading state (Trigger Orders cannot be placed during maintenance periods).
2. The quantity for the Trigger Order must meet the specific requirements for the product's minimum order quantity.
3. The user's assets will not be frozen before the Trigger Order is activated. Only when the order is triggered and executed at the pre-set price and quantity will the assets be frozen.
4. Trigger Orders are not guaranteed to trigger successfully. They may fail due to reasons such as price restrictions, order quantity limits, insufficient balance, the trading pair being in a non-trading state, network issues, or system errors.
5. When a Trigger Order is triggered, the system will attempt to place the order at the pre-set price. However, if the order price exceeds the limit (for example, the buy price is more than 10% higher than the latest price or the sell price is more than 10% lower than the latest price—specific limits may vary), the order will fail.
6. Once the Trigger Order is triggered, it will be treated as a limit order, placed at the pre-set price. The order will not necessarily be filled. A limit order means: if the sell order price is lower than the current market price, it will execute at the best market price; if the buy order price is higher than the current market price, it will execute at the best market price. The order cannot guarantee execution and will depend on the market conditions at the time.