Trigger Limit

A Trigger Limit waits until the market reaches your trigger price. Then it places a limit order at the price you set. Nothing is in the order book before that.

Use it to enter or exit only when a level is reached, for example to buy a breakout above resistance, but not at any price.

Place one

1. Under Advanced, choose Trigger Limit.
2. Enter the trigger price: the level that activates the order.
3. Enter the limit price: the price of the order that is placed then.
4. Enter the quantity and click Buy / Long or Sell / Short.

The waiting order is listed in Pending. Once triggered, it becomes a normal limit order.

Good to know

• The trigger watches the mark price.
• After the trigger, the limit order behaves like any limit order: it fills at your price or better, or not at all if the market has already moved beyond it. Leave some room between trigger and limit price in fast markets.
• To close a position when a price is reached, TP/SL is usually the simpler choice.