Place an order
Buy
Supposing the GT price has been going down recently, user A wants to buy some GT at a low price when the price starts to bounce back. In this case, user A can place a trailing reversal order to trail the price movement and buy GT when the price is about to bounce back and go up. User A can set up a Reversal Rate of 2%, an Activation Price of 5, an order amount of 10 GT, a Valid duration of 1 Day. Then click on [Buy GT].
The current market price is 6 USDT and is still going down and the price starts to bounce back when it hits 4 USDT. When the price goes up to 4.08 USDT, the reversal rate = (4.08-4) /4 = 2%, which meets the ≥2% criterion. However, the market price 4.08 USDT is still under 5 USDT, the activation price. Therefore, the system will not place the order. When the market price keeps going up and hits 5 USDT, which means the criteria of market price ≥ activation price, activation price ≥ the lowest price, and the bounce back rate ≥ the preset 2% reversal rate are all met, the order will be triggered and the system will place an order with the preset order price and amount.
Sell
Supposing user B has 10 GT in his account and the price of GT keeps climbing, user B wants to sell them when the price reverses at a high price. In this case, user B can place a trailing reversal order. He can set up a Reversal Rate of 4%, an Activation Price of 10.5 USDT, an order price of Last Price, an Sell order amount of 10 GT and a validation period of 1 day without enabling IOC. Then click on [Sell GT].
The current market price is 6 USDT and is still going up and the price starts to drop when it hits 12 USDT. When the price goes down to 11.5 USDT, the reversal rate = (12-11.5) /12 = 4%, which meets the ≥4% criterion. However, the market price 11.5 USDT is still above 10.5 USDT, the activation price. Therefore, the system will not place the order. When the market price keeps going down and hits 10.5 USDT, which means the criteria of market price ≤ activation price, activation price ≤ the highest price, and drop rate ≥ the preset 4% reversal rate are all met, the order will be triggered and the system will place an order with the preset order price and amount.
Check untriggered orders
Untriggered trailing reversal orders can be seen in [Open Orders] - [Trailing Stop]. You can click on [Cancel] to cancel the order.
Check triggered orders
You can check the triggered limit order with the preset order price and amount in [Open Orders] -[Limit]. The unfilled portion of the limit order can also be cancelled.
Note:
if there's no limit order placed when all trigger conditions have been met, the reasons could be the two following ones:
- Inadequate balance leads to a failure in placing the order.
- The limit order is filled immediately or IOC is enabled when placing the order. In these cases, you can check the details in [Trade History].
Check order history
Triggered, expired or canceled trailing reversal orders can be seen in [Order History] - [Trailing Stop]. Filled orders can been seen in [Trade History].
The final interpretation of this product is reserved by Gate.
