"Trigger" refers to a trading strategy where orders will only be executed or activated in the market if specific criteria are met. Users need to set the order price, quantity, and trigger price. According to the user's settings, the system will automatically place the order when the market price reaches the trigger price. "Trigger" will not freeze the account assets as the initial margin. If the user's current available balance is greater than the initial margin required for the commission, the order will be activated.
1) Trigger Limit-Order: If the user makes a trigger Limit-Order, the system will place a limit order once triggered.
2) Trigger Market-Order: If the user makes a trigger market order, the system will place a market order once triggered. This helps users to make quick transactions.
Examples:
A BTCUSD Perpetual Contract where the linked price is $50,000
The user places a trigger limit order: trigger price: $45,000; order price: $44,000; quantity: 1,000 USD. Direction: buy long
Executions: when the market falls to $45,000, （the system）places a long buy order at $44,000 with a quantity of 1,000 USD.
The user places a trigger limit order: trigger price: $45,000; order price: $44,000; quantity: 1,000 USD. Direction: sell short
Executions: when the market falls to $45,000, （the system）places a short sell order at $44,000 with a quantity of 1,000 USD.
The user places a trigger limit order: trigger price: $55,000; order price: $56,000; quantity: 1,000 USD. Direction: buy long
Executions: when the market rises to $55,000, （the system）places a long buy order at $56,000 with a quantity of 1,000 USD.
The user places a trigger limit order: trigger price: $55,000; order price: $56,000; quantity: 1,000 USD. Direction: sell short
Executions: when the market rises to $55,000, （the system）places a short sell order at $56,000 with a quantity of 1,000 USD.
(Examples above are Trigger limit orders, but market orders work the same way)