Dear WEEXer,
Read on to learn about the WEEX trigger order feature.
Trigger order: Users set the trigger order, the price target, and quantity. When the latest execution price or mark price meets the condition to be triggered, an order will be placed according to the pre-set execution method (limit or market order) and quantity.
With trigger orders, users can plan the buy and sell points in advance without having to constantly monitor the market and reach their TP/SL goals.
About the parameters:
Trigger type: market price (and latest execution price), mark price (and reasonable mark price).
Trigger price: the order will be triggered to be placed when the latest price reaches the set trigger price.
Price target: the price at which the order is filled. This is the price at which the system automatically places the order when the latest price reaches the trigger price.
Quantity: the order quantity after the open trigger order is triggered.
Note 1:
When your order quantity exceeds your maximum limit, the system will place an order based on your current maximum limit.
A trigger order may not be successfully executed due to price limit, order quantity limit, position limit, insufficient margin, position tier, network issues, or system issues, etc.
Note 2:
Modification of trigger orders:
The price of the modified trigger order will be compared with the current price when the new order is created.
Long orders: if the trigger price is higher than the current price when the order is created, the order will be executed immediately.
Short orders: if the trigger price is lower than the current price when the trigger order is created, the order will be executed immediately.
Please take into account the difference between the market price when you want to modify the trigger order and the price when you first set the trigger order.
Example scenario: you place a trigger order to short BTC/USDT at the price of 28,250 when the current price of the trading pair is 28,182.9 USDT. Two hours later, you want to change the trigger price to 27,650 USDT. However, at this time, the trigger price of 27,650 USDT is less than the current price of 28,182.9 USDT, so the modified order will be executed immediately.
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Thank you for supporting WEEX!
The WEEX Team
WEEX website: https://www.weex.com/
WEEX Help Center: https://weexsupport.zendesk.com/hc/en-us
Official WEEX Telegram group in English: https://t.me/WeexGlobal_Group