What is a Conditional Order – Help Center

A Conditional Order is a type of order that is triggered only when specific market conditions are met. Users can set a trigger price, and the order will automatically execute when the market price reaches the trigger price. Conditional orders are useful for managing risk and executing trades without constant monitoring.

Key Features

1.Trigger Price:

The price at which the conditional order is activated.
Users can choose to trigger based on the latest price, mark price, or index price.

2.Order Type:

Conditional orders can be limited orders or market orders.
To limit orders, users specify the execution price.
For market orders, the order executes at the best available price.

3.Flexibility:

Conditional orders can be used for both opening and closing positions.
They are ideal for setting take-profit or stop-loss levels.

How to Set a Conditional Order?

Web Version

1.Go to the trading interface and select the desired trading pair.

2.Click "Conditional Order" in the order section.

3.Set the following parameters:

Trigger Price: The price at which the order will activate.
Order Type: Choose between limit order or market order.
Quantity: Enter the amount you want to trade.
Trigger Type: Select latest price, mark price, or index price.

4.Confirm and submit the order.

App Version

1.Open the DeeBit Exchange app and go to the trading interface.

2.Select the desired trading pair and tap "Conditional Order".

3.Set the trigger price, order type, quantity, and trigger type.

4.Confirm and submit the order.

Example

Take-Profit Conditional Order

Action: Set a conditional order to sell 1 BTC at 55,000 USDT when the market price reaches 55,000 USDT.
Outcome: The order will automatically be executed when the market price hits 55,000 USDT.

Stop-Loss Conditional Order

Action: Set a conditional order to sell 1 BTC at 45,000 USDT when the market price drops to 45,000 USDT.
Outcome: The order will automatically be executed when the market price falls to 45,000 USDT.

Advantages of Conditional Orders

1.Risk Management: Automatically execute trades when specific conditions are met, reducing the need for constant monitoring.

2.Precision: Set exact entry and exit points for your trades.

3.Flexibility: Can be used for both opening and closing positions.

Common Questions

1.Why Didn’t My Conditional Order Trigger?

The market price did not reach the trigger price.
Ensure the correct trigger type (latest price, mark price, or index price) is selected.

2.Can I Cancel a Conditional Order?

Yes, you can cancel a conditional order before it is triggered.

3.What Happens If the Market Moves Too Fast?

If the market moves rapidly, the order may be executed at a different price than expected due to slippage.