Understanding Trigger Orders
A trigger order allows you to set a specific price at which you want to buy or sell a cryptocurrency. Once the buy/sell price matches your trigger price, the order is automatically placed as a market order. Trigger orders are commonly used for:
Take-Profit Orders: Automatically sell your crypto at a target price to lock in profits.
Stop-Loss Orders: Automatically sell your crypto at a specified price to minimize losses.
With trigger orders, you can manage trades without having to constantly monitor market conditions.
How to Set Up a Trigger Order
Step 1: Open the Buy & Sell Page
Click on the crypto asset you want to trade.
Select either Buy or Sell and then choose ‘Trigger’ instead of ‘Instant’.
Step 2: Enter Trigger Order Details
Enter the trigger price (the price at which you want the order to activate).
Input the amount of cryptocurrency you wish to buy or sell. You can enter up to 8 decimal places for fractional amounts.
Step 3: Review Your Order
Click the ‘Review’ button to see the details of your trigger order, including fees associated with the trade once the trigger price is reached.
Step 4: Confirm Your Order
Once you’re happy with the details, click ‘Confirm’ to finalize the trigger order.
Note: The trigger order will only execute when the buy/sell price reaches your specified price.
Why Use Trigger Orders?
Automated Trading: No need to monitor the market constantly; your trades are placed automatically.
Simultaneous Strategies: You can set up multiple trigger orders for different trading strategies.
Funds Remain Unlocked: Unlike some platforms, Digital Surge does not lock your funds into open trigger orders.
Example:
You have $55,000 AUD and 0 BTC.
You set a buy trigger to purchase 1 BTC at $55,000.
You also set a sell trigger to sell 1 BTC at $65,000.
If the price drops to $55,000 and later rises to $65,000, both orders will execute automatically—netting you a profit without manual intervention.
Trigger Orders on Tradingview
Digital Surge integrates Tradingview, a powerful charting tool that allows you to visualize and modify trigger orders directly on the chart:
Click the eye icon above the chart to see your active trigger orders.
You can adjust your trigger orders by clicking on them within the chart.
How to Switch to Tradingview Mode:
On any coin’s chart, click the candlestick icon in the top-right corner to switch to Tradingview.
Tradingview provides access to advanced technical analysis tools and customizable indicators, making it ideal for more in-depth market analysis.
Important Notes:
Price Volatility: The amount of cryptocurrency received may vary slightly due to market volatility.
Sufficient Funds: Ensure you have enough funds available at the time the order is executed. Unmatched orders will not incur fees.
Fees: Trading fees apply only to successfully completed trades.
Need Help?
If you have any questions or need further assistance, contact our support team via live chat or email us at contact@digitalsurge.com.au.