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  • Writer's pictureGlobal MoonXBT

Trigger orders detailed

Trigger order is a pre-set order that users place ahead with an order price and contracts amount (like a limit order), which will only be triggered under specific conditions (a trigger price/ trigger).

Once the market price has reached the trigger, the pre-set order will be executed. With this type of order, users don’t need to keep an eye on the market all the time, instead, they could set an order in advance to sell or buy contracts, which would help to take profits and stop losses.

Take Profit from Buy/Long :

Use Trigger orders for Buy/Long. When the Ask price rises/falls to the trigger price, the system automatically opens a position at the set price.

Example:

Trader A predicts that the price of XXB will fall to 100U and then start to rise, and so the trader wants to buy XXB at the price of 100U. At this time, he only needs to use Trigger orders to Buy/Long and set the trigger price to 100 U. When the Ask price drops to 100U, the system will automatically open the position according to the set price.

Take Profit from Sell/Short:

Use Trigger orders for Sell/Short. When the Bid price rises/falls to the trigger price, the system automatically opens positions at the set price.

Example:

Trader B predicts that the price of XXB will rise to 500U and will start to decline, and wants to buy XXB at the price of 500U. At this time, he only needs to use Trigger orders to Sell/Short and set the trigger price to 500 U. When the Bid price rises to 500U, the system will automatically open the position according to the set price.


Click HERE to learn more about Trading Operation Mechanism.

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