Trigger Orders Guide

What is a Trigger Order?

In cryptocurrency trading, a Trigger Order is a type of pre-set conditional order. Users can set a trigger price and an execution price in advance. When the market price reaches the trigger price, the system automatically places an order and executes a buy or sell action at the pre-set price. This method is commonly used for setting take profit or stop loss, or for trading under specific market conditions, allowing users to automate their trades during price fluctuations without constantly monitoring the market. Trigger Orders are especially suitable for beginners who wish to open or close positions within a specific price range.

How to Use Trigger Orders

In the trading page, set the leverage for long or short positions — Click Open Position — Click Trigger Order — Enter the Trigger Price — Adjust the Order Price — Select the Quantity — Choose Buy/Open Long or Sell/Open Short.

After the order is submitted, users can view their order under Current Orders in the Trigger Orders section.

Note: When an active order exists, the leverage for the same direction cannot be modified.

Risk Warning:

The cryptocurrency market is highly volatile. While trigger orders can reduce risks associated with manual operations, they do not completely eliminate risks from market fluctuations. Monochrome recommends using sound risk management strategies when using this feature to avoid significant losses.