Trigger Order
A trigger order market buys or sells a perp when a predefined price is crossed. Trigger orders allow traders to manage risk without needing to monitor positions constantly.
Placing a Trigger Order
To place market order, complete the following steps:
Click on Buy (Long) / Sell (Short).
Select Trigger Mkt.
Add Equity to the Subaccount if needed.
Input an Order Size.
Select a Leverage Amount (if other than 1x).
Input a Trigger Price.
Review the Order. Traders may need to add additional collateral to their subaccount depending on the order size.
Click Place Order.
After placing a trigger order, traders will see the filled limit orders removed from the orderbook.
Trigger Order Example
A trader is long 2 Milady with an average open price of 3 ETH and a liquidation price of 2.4 ETH. The trader believes the price will increase but wants to mitigate their risk.
The trader places a trigger order short at 2.5 ETH for 2 Milady. If the price moves in the opposite direction as their long and hits 2.5 ETH, their trigger order will be triggered.
A trigger order was necessary in this situation instead of a limit order because if they placed a limit order, it would cross the orderbook and immediately get filled.
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