Trigger order is a trading instruction with pre-defined parameters by a customer. When the last traded price has reached the trigger price, our system will send the trading instruction into the order book.
For example, the last traded price of BTC is 9,600 USDT. If a user believes that the price will continue surging up if it breaches the resistance at 10,000 USDT, he may place a trigger order with the following parameters:
Trigger price: 10,000 USDT
Order price: 10050 USDT
Volume: 1.5 BTC
Our system will then automatically send a limit order with the above parameters to the order book when the last traded price reaches 10,000 USDT. This would save the user's time from monitoring the market.