What is a Trigger-limit order?
A trigger-limit order is an order type that automatically converts limit orders into a order based on market conditions. Different from the ordinary order, the plan order will not be directly sold, but will be converted into a order and realized when the trigger condition takes effect. In other words, it will only trigger the order instead of the depth.
The advantage of trigger-limit order is that as long as you have set the order, when the market triggers the corresponding conditions, your order can complete the transaction immediately without manual intervention. You can use trigger-limit order to stop profit or loss, and you can also open the position to earn profits after the market reaches the point you expect.
How to use the trigger-limit order to entrust a stop loss?
1. The trigger-limit order include open position order plan and close position order plan. The close position order plan is also called stop-loss plan. Check the picture below.
2. Enter trigger price, limit price and amount
Trigger price type includes last price, fair price and index price (shown in the pic. below). If you select Index price as the trigger price type, the order will be triggered when the index price reaches the price you have set.
Limit price: it is the price that your order placed in the order book upon your triggered price reached.
Amount: the amount of the order.
Valid term: Users can select "in 24 hours" or "in 7 days".
3. After you have set up and submitted the trigger-limit order, you can view the current trigger-limit order in the trigger-limit order. (Note: Confirm that the asset is sufficient when you execute it, otherwise the trigger-limit order may fail to execute when triggered.)
Are there any costs to a trigger-limit order?
The trigger-limit order is free of charge, the transaction fee for the order is subject to the triggered order.