Bitget Trigger Order Method and Application Example

Characteristics of Limit Order and the Necessity of Trigger Order

When trading coins on Bitget, there are times when you want to place a long order at a price higher than the current market price or a short order at a price lower than the current market price. This is especially relevant when you want to confirm the emergence of a strong trend before entering such trades.

However, if you use a limit order as described above, it won’t result in a ‘long’ buy order at a price higher than the lowest ask price or a ‘short’ buy order at a price lower than the highest bid price.

Instead, your order will simply be executed at the current market price.

Characteristics of Bitget Limit Order

A limit ‘long’ buy order with a price higher than 29,073 USDT will be executed at 29,073 USDT,

and a limit ‘short’ buy order with a price lower than 29,072.5 USDT will be executed at 29,072.5 USDT.

Utilizing Bitget Trigger Order

When you expect a strong trend and consider placing ‘long’ buy orders at a price higher than the current market price or ‘short’ buy orders at a price lower than the current market price, you can make use of trigger order.

Location of the Bitget Trigger Order Window

A trigger order is a type of conditional order that follows the formula “Buy at price C when coin A reaches price B.”

When Trigger Price and Execution Price Coincide

In the formula mentioned above, B represents the Trigger price, depicted in the red box above, while C represents the Execution price, indicated in the box below. (Both values can be specified arbitrarily.)

if you put different values of B and C, the coin is automatically purchased at the appropriate market price when the market price of that coin is above the B price. So in order to buy at the exact price, you must enter the same trigger price and the execution price and then order. You make ‘B=C’ in “Buy at price C when coin A reaches price B.”

When Trigger Price and Execution Price are the Same

Let’s buy the above trigger order into Long. If it’s a conditional expression , it would be, “Buy at the price of 29,792 USDT when Bitcoin reaches 29,792 USDT.”

After entering the long trigger orde a spider line

After entering the long trigger order, a spider line appears at the price of 29,792 USDT. The current price is 29,789.5 USDT. If the current market price surpasses 29,792 USDT, the order will be executed.

Open order Trigger price Execution price

You can also check the Trigger price and Execution price in the order history, Open Order.

Bitget trigger buy

Luckily, after a few minutes, the price of Bitcoin broke through the 29,792 USDT price. And on my position screen, there’s a bitcoin transaction history as below.

After trigger long buy, position screen

As such, if you enter the same value as Trigger price and Execution price, you enter the exact price. Now, let’s look at what happens when you set the Trigger price and the Execution price differently.

Trigger price and Execution price are different when ordering a trigger

At this time, the conditional formula changes as follows.

“If Coin A is above the B price, buy it at an appropriate market price at that point.”

You can see the description “To be exposed at the best price” in the above Execution price section.

Let’s see how it’s actually purchased.

Bitget Current Value Chart

The price of Bitcoin is 29,079.5 USDT. At this point, insert a trigger order.

Bitget Trigger Long Order

Trigger price is set to 29,085 USDT, and Execution price is set to 29,090 USDT differently.

Bitget Trigger Order Confirmation Window

In other words, it’s an order that says, “If Bitcoin is more than 29,085 USDT (Trigger price), we’ll buy it at 29,090 USDT (Execution price) price,” Press the Confirm button.

BitGet Trigger Long Order

As expected, there is a new line in the 29,085 USDT price range. If you look closely at the line, you can see that the trigger order conditional expression is shown.

Bitget Trigger Open order

The price I ordered is also shown in the “Open orders”,

After a few minutes, it broke the 29,085 USDT, and the buyout occurred,

Bitget Trigger Long Order Position Screen

The purchase price is 29,086.5 USDT, not 29,085 USDT, or 29,090 USDT, which is the execution price. It was bought at an ambiguous price.

The same goes for Short

Bitget Trigger Short Orders

Let’s set up Trigger price and Execution price differently like Long order.

Trigger Shot Order Line

The order went in right, and the price of Bitcoin broke the short order line.

Bitget Trigger Short Order Position History

However, the purchase price became 29,139.50 USDT.

Conclusion of Trigger Order

If you enter different values of Trigger price and Execution price, you will see that the order is placed at the appropriate market price.

Therefore, it is recommended to set the Trigger price and Execution price to the same value when buying at the exact price while using the trigger order.

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