- How to use Dual Currency Trigger Order?
You can set a trigger price for Dual Currency orders according to your own risk appetite and judgment based on the market direction. Below are a few examples for reference:
Dual Currency
When entering a “XX” Dual Currency product, you can now manually set various parameters including the linked price, trigger price and expiration date. You will automatically enter the product when the spot (market) price of “XX” meets the trigger price set. This means you can now set the BTC price above the spot price, as the trigger price.
EXAMPLE 1:
The current market price of BTC is 23,000 USD. If you want to buy into a BTC Dual Currency product when the BTC market price is above 25,000 USD, then you can set the parameters as follows:
> The trigger price for Dual Currency: 25,000 USD
> Linked Price: 26,000 USD
> Tenor: 7 days
If the BTC market price is higher than 25,000 USD, your pending order will be triggered, and you will automatically purchase the BTC Dual Currency product with a 7 day tenor and a 26,000 USD Linked Price according to the set rules.
Dual Currency - U
If you want to buy a BTC-U Dual Currency product can set a BTC price below the market price as the trigger price.
For example, the current market price of BTC is 23,000 USD. Should you want to buy a BTC-U Dual Currency product when the BTC market price is lower than 21,000 USD, then you can set the parameters as follows:
> The trigger price for Dual Currency: 21,000 USD
> Linked Price: 20,000 USD
> Tenor: 7 days
If the BTC market price is lower than 21,000 USD, the Dual Currency pending order will be triggered to buy a BTC-U Dual Currency product with 7 days tenor and 20,000 USD linked price according to the set rules.
- Order Status
- To be triggered - After the trigger price is set, pending for the market price to reach the expected price.
- Triggered - When the market price reaches the set trigger price, the Dual Currency pending order is triggered, and the Dual Currency product is purchased according to the set rules.
- Active Cancellation - Before the order is triggered, users can actively cancel pending orders according to market trends or investment preferences.
- System Cancellation - If the account balance is insufficient and fails to be retried for 5 times the pending order will be automatically canceled.
- Expired - When the set expiration date is reached, the market price does not reach the trigger price, then the order fails.
- Default Trigger Price for Dual Currency
Altcoin Dual Currency: By default, a price higher than the market price is selected as the trigger price.
U Dual Currency: By default, a price lower than the market price is selected as the trigger price.