What is a Trailing Stop Order?
A trailing stop order is an order that tracks market prices, with the trigger price dynamically adjusting as the market fluctuates. Once triggered, it will place a market order. This type of order allows traders to lock in profit as the price moves in their favor or limit losses when the price moves against the trader. Additionally, users can set an activation price to define when the trailing order gets activated.
How to Place a Trailing Stop Order?
Trail Variance: This is the primary condition for calculating the actual trigger price. The actual trigger price is determined based on the highest/lowest historical price and the trail variance. For example, for a sell order with a 5% variance and a historical highest price of $50,000, the current actual trigger price would be $50,000 * (1 - 5%) = $47,500.
Activation Price: The activation price is the condition for activating the trailing stop order. When the latest market price reaches or exceeds the activation price, the order is activated. Once activated, the system starts calculating the actual trigger price. If no activation price is set, the order is activated immediately after placing it.
Currently only supported for USDT-M Perp Trading
1. Select Order Type
In the order section, choose the "Trailing Stop"
2. Enter Order Parameters
Trailing Method: You can choose to trail by percentage or price distance.
For price distance:
Buy/Close Short: Trigger Price = Lowest Price + Price Distance
Sell/Close Long: Trigger Price = Highest Price - Price Distance
For percentage:
Buy/Close Short: Trigger Price = Lowest Price * (1 + Percentage)
Sell/Close Long: Trigger Price = Highest Price * (1 - Percentage)
Activation Price (Optional): If not set, the order will be activated immediately.
Buy orders: The price must be less than or equal to the current market price.
Sell orders: The price must be greater than or equal to the current market price.
Once the parameters are correct, submit the order, and a pop-up will appear for the final confirmation.
3. Order Management
After successfully placing the trailing order, it will be displayed under "Conditional Orders." Users can modify the size or cancel the order.
