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Trigger Orders#

The trigger price is the price at which the order begins to execute. Until the trigger is reached, the order sits inactive; once the market reaches the trigger price, the order activates and execution starts. Any execution algo can be armed with a trigger via its Advanced settings.

Above and Below describe where the trigger sits relative to the current market price — not which way you are trading. Either condition works with a buy or a sell.

Below#

Trigger Price "Below" means the trigger price is below the current market price: the order stays inactive while the market is above it, and starts when the market price falls to the trigger.

For example, $ETH is trading at 2,000. You set a trigger price of 1,500 with the condition "Below". The order will only start once $ETH falls to 1,500 — whether that order is a buy (you want to accumulate on a dip) or a sell (you want to exit if the market breaks down).

Above#

Trigger Price "Above" means the trigger price is above the current market price: the order stays inactive while the market is below it, and starts when the market price rises to the trigger.

For example, $ETH is trading at 2,000. You set a trigger price of 2,500 with the condition "Above". The order will only start once $ETH reaches 2,500 — whether that order is a sell (you want to take profit into strength) or a buy (you want to add once the market confirms a breakout).

Behavior summary#

Scenario Mechanism Chart
Price is over "Trigger Price Below ▼" Execution is inactive and starts if the trigger price is reached. Trigger Price Below chart
Price is under "Trigger Price Above ▲" Execution is inactive and starts if the trigger price is reached. Trigger Price Above chart

While the order waits#

An armed order does not appear with your working orders — it waits in the Trigger orders tab, where you can review or cancel it before it fires. Once the trigger condition is met, the order moves out of that tab and starts executing as a normal parent order.

If the market never reaches your trigger price, nothing executes: the order simply sits there until it reaches its expiration (6 months by default, or the 1-week or 1-month value you chose under Advanced settings > Expiration), and is then dropped. Cancel it yourself at any point from the Trigger orders tab if you no longer want it.