Order Types

<p>Smart orders have become an essential part of traders' toolset, providing efficient execution of trading strategies and protection against risks. Let's take a look at what these orders are and how they are used on the Bitsgap platform.</p>
<hr>
<h3 id="h_01HXEKY14RRD2DY098JPAFHHQ8">What are Smart Orders?</h3>
<p>Smart orders are a way of automated trading. They differ from traditional limit and market orders in a way that they offer more flexible and customizable parameters such as Trailing Stop, Take Profit and Stop-Loss options, allowing traders to optimize their strategies and minimize risk.</p>
<p>To start using the Smart orders on the Bitsgap platform, please follow these steps below:</p>
<ol>
<li>
<p>Log in to your Bitsgap account;</p>
</li>
<li>
<p>On the top menu, click on the “Trading” page;</p>
</li>
<li>
<p>In the "Trading" section, select exchange and trading pair on which you would like to set up a smart order;</p>
</li>
</ol>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/13908133570076" alt="Screen Shot.jpeg"></p>
<ol start="4">
<li>After that, you can choose the order type and specify the price, volume, and other parameters required to execute the order according to your trading strategy;</li>
</ol>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/13908133570972" alt="Untitled (24).png"></p>
<ol start="5">
<li>
<p>The Smart Trade section also provides additional settings such as Trailing Stop, Take Profit, Stop-Loss, and many other options to help you optimize your trade;</p>
</li>
<li>
<p>Once you have configured your Smart order's parameters, click the “Buy/Sell” button to confirm and execute your trading strategy.</p>
</li>
</ol>
<hr>
<h3 id="h_01HXEKY14RJHG8GJNH73FJS59M">Modifying Smart Orders</h3>
<p>When a Smart order is created, it is important to be able to monitor its status and make changes if necessary. Go to the “Positions” or “Open orders” tab; here, you will see a list of all active orders. If you want to change the parameters of an active Smart order, select the order and click the edit icon. In the edit interface, you will be able to change some parameters.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/13908133571356" alt="Untitled (26).png"></p>
<p>The edit panel allows you to enable/disable and edit Take Profit, Trailing Take Profit, and Stop Loss. You can adjust them by inserting the desired percentage or a trigger price. After making the necessary changes to the order parameters, click the “Save” button to apply the new settings.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/13908161429404" alt="Untitled (27).png"></p>
<p class="notes"><strong>Note<br></strong>Please note that not all types of smart orders have the edit icon available.</p>
<p>Smart orders provide traders a powerful tool to automate and optimize their trading strategies in the cryptocurrency markets. Using the Bitsgap platform, you can easily customize and manage your orders, increasing efficiency and minimizing risk. Start using smart trades to improve your trading experience!</p>
<hr>
<h3 id="h_01JJ2F9H7831YTA4VPZP5YR6QH">What's Next</h3>
<ul>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/9965161851420">Learn More About Scaled Orders</a></strong>: Discover how to use Scaled Orders to execute trades with precision by dividing your investment into multiple levels across a price range.</li>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/14862507279132">Explore TWAP Orders</a></strong>: Understand how Time-Weighted Average Price (TWAP) orders can help you execute large trades over time, minimizing market impact.</li>
</ul>
<hr>
<h3 id="h_01JJ2FBMGEDYXZMKSBZT7JJBX4">Need Assistance?</h3>
<p>If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap <a href="mailto:support@bitsgap.com"><span class="wysiwyg-underline" style="color: #1155cc;">Customer Support</span></a> Team.</p>
<p></p>
<p></p>

How to Use Smart Orders on Bitsgap

<p>TWAP (Time-Weighted Average Price) is an order that buys or sells coins in equal portions over a set period of time. With the TWAP order, you can average your coin’s sale or purchase price and minimize the impact of a large order on the market.</p>
<h3 id="h_01J2DRVKMXTQANM2HFHTFGCMKW">Create a TWAP order</h3>
<p>The TWAP order is available only for <strong>spot trading</strong> and can be accessed on the <a href="https://app.bitsgap.com/trading" target="_blank" rel="noopener noreferrer">Trading</a> page. To create a TWAP order, go to the trading widget and select the&nbsp;<strong>TWAP</strong> order type.</p>
<p>Now enter the order's parameters:</p>
<ol>
<li>Select a <strong>side</strong> — Buy or Sell.</li>
<li>Enter the total <strong>amount</strong> of the base currency to buy or sell in the&nbsp;<strong>Amount</strong>&nbsp;field, or select the <strong>percentage</strong> based on your available balance.</li>
<li>Specify the <strong>buy or sell period</strong> — in what period of time your TWAP order should be fully completed.</li>
<li>Enter the <strong>total number</strong> of <strong>market orders</strong> to be executed during the chosen period. You can check the base currency amount purchased or sold with each of your market orders in the <strong>Buy or Sell</strong> <strong>quantity each time</strong> field.</li>
</ol>
<p>When ready, click the&nbsp;<strong>[Buy/Sell ...]</strong>&nbsp;button to create your TWAP order.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/18056455133724"></p>
<p class="notes"><strong>Note<br></strong>The first market order is always completed once you place your TWAP order.</p>
<h3 id="h_01J2DRWS2WCV3XNTYE6EVC0X5B">View and manage your open TWAP orders</h3>
<p>You can see your active TWAP orders on the <strong>Trading</strong> page, in the <strong>Open orders</strong> tab:</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/14862490616988" alt="Untitled (2).png"></p>
<p>Here, you can check the following:</p>
<ul>
<li>
<strong>Price</strong> - the average purchase or sale price.</li>
<li>
<strong>Amount</strong> - the base currency amount per each market order.</li>
<li>
<strong>Filled</strong> - the order completion percentage. With this value, you can understand how many market orders (parts of your whole TWAP order) are filled and how much is left for your trade to be completely filled.</li>
<li>
<strong>Total</strong> - the estimated value of all market orders within your TWAP trade.</li>
<li>
<strong>Date</strong> - the TWAP order creation date.</li>
</ul>
<p>If there are any changes to your strategy, you can always cancel your TWAP order. To do so, click on the [<strong>Cancel</strong>] button and confirm the action:</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/14862507277724" alt="GIF Recording 2024-07-08 at 4.41.01  (1).gif"></p>
<p>The TWAP order can become a life-changing solution if you want to divide your trade into parts and average its buy or sell price. TWAP orders are easy to customize and efficient in minimizing the effect of your order on the chosen market.</p>
<hr>
<h3 id="h_01JJ2BJV64GGXN47KJQAKZ98YQ">What's Next</h3>
<ul>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/9965161851420">Learn More About Scaled Orders</a></strong>: Discover how to use Scaled Orders to execute trades with precision by dividing your investment into multiple levels across a price range.</li>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/13091210942364">Try Our Bots: Launch Your First Bot Today</a></strong>: Experience automated trading by setting up your first bot on Bitsgap and unlocking new trading possibilities.</li>
</ul>
<hr>
<h3 id="h_01JJ2BKVBCGB5PQ1P6PPQRCFH5">Need Assistance?</h3>
<p>If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap <a href="mailto:support@bitsgap.com"><span class="wysiwyg-underline" style="color: #1155cc;">Customer Support</span></a> Team.</p>
<p></p>
<p></p>
<p></p>
<p></p>

TWAP order

<p>Scaled order consists of several limit orders placed one by one in decreasing or increasing order of price.</p>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<hr>
<h3 id="h_daa2902cea">How to create a Scaled order</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>When creating a Scaled order, you have to select:</p>
<ol>
<li>Buy or Sell;</li>
<li>High and Low prices;</li>
<li>The number of levels from 10 to 100;</li>
<li>The Amount in the base currency or the Total in the quote currency.</li>
</ol>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/18056488312604"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p><strong>Note</strong></p>
</div>
<div class="intercom-interblocks-callout">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="notes">The Low price has to be less than the High price, and there should be a distance between them that allows placing the specified number of orders.</p>
</div>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>When launching a scaled order, the buy order can only be placed under the current price. It means that the sell-scaled order can be placed only above the current price. Once all the parameters are set, click [<strong>Buy/Sell ...].</strong></p>
<hr>
</div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_194e23e978">Track your Scaled order</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>To see whether your order has been filled, go to the <strong>Open orders</strong> tab. The Filled volume will appear as the limit orders are executed.</p>
</div>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198049572892"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>As the orders get completed, the price range will shrink, the volumes will decrease, and the percentage of execution will grow.</p>
</div>
<div class="intercom-interblocks-callout">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="notes"><strong>Note<br></strong>Once the order has been placed, it cannot be modified. The only way to change it is to cancel the order and create a new one.</p>
</div>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>After placing the order, High and Low orders will be displayed with crosses. By pressing any cross, the scaled order will be fully canceled.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863743347868"></p>
</div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<hr>
<h3 id="h_fe481db85c">Sell and Buy Scaled orders</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>Scaled buy orders are great for price averaging. When creating it, the High price should be set below the current price, and the Low price has to be under the High price. Otherwise, the system will ask you to adjust the range.</p>
</div>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863743360412"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>If we talk about Scaled sell orders, they are great for selling all the way up. This way, you can sell your base currency at a higher price each time the price moves up.</p>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>The Scaled sell order should be set above the current price. Just like with the Scaled buy order, the Low price has to be below the High price.</p>
</div>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863727133980"></p>
<hr>
<h3 id="h_01JJ2C4J7W7CHB345Z1ZHTQF4N" class="wysiwyg-text-align-left">What's Next</h3>
<ul>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/9965430936476">Learn More About Stop-Market Orders</a></strong>: Understand how Stop-Market Orders can help you execute trades automatically once a specific price level is reached.</li>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/13091210942364">Try Our Bots: Launch Your First Bot Today</a></strong>: Experience automated trading by setting up your first bot on Bitsgap and unlocking new trading possibilities</li>
</ul>
<hr>
<h3 id="h_01JJ2DWV5QH8A3M90C5N8NAK78">Need Assistance?</h3>
<p>If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap <a href="mailto:support@bitsgap.com"><span class="wysiwyg-underline" style="color: #1155cc;">Customer Support</span></a> Team.</p>
</div>

Scaled Order

<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>A one cancels other (OCO) is a pair of conditional orders stipulating that if one order gets filled, then the other order is automatically canceled.</p>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>OCO often combines a stop order with a limit order on an automated trading platform. When either the stop or limit price is reached, and the order is executed, the other order or group of orders gets canceled automatically. Experienced traders use OCO orders to mitigate risk or to enter the market at a more favorable price.</p>
<hr>
</div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_cff065f532">How to create OCO</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>OCO connection may be created between spot Limit and <a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/9965430936476" target="_blank" rel="noopener noreferrer">Stop</a> (Stop-Market) orders. Here’s how to set up your first OCO connection:</p>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>1. On the <a href="https://app.bitsgap.com/trading" target="_blank" rel="nofollow noopener noreferrer">Trading</a> page, head to the trading widget on the right-hand side and select a <strong>Stop</strong> or <strong>Limit</strong> order.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11864494601244"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>2. Specify your order details and enable the "<strong>One cancels other" </strong>option. Select the one you want to set up a connection with from the list of available open orders.</p>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11864512461596" alt="Screen Shot.png"></p>
<div class="intercom-interblocks-callout">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="notes"><strong>Note<br></strong>In case there are no open orders that meet the requirements, there won’t be an option to connect the new order with another trade.</p>
</div>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>3. Double-check the order details and proceed with the <strong>[Buy …/Sell …]</strong> button. The order will be placed, creating the OCO connection with the selected order.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11864494615452"></p>
<hr>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_43da0b8053">View and manage your open orders connected with OCO</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>Once you connect orders with the OCO option, they will be tagged as "OCO" in the "<strong>Open orders"</strong> tab. If you have Stop-Loss or Take Profit enabled on any of those orders, you will be able to modify them anytime without disrupting your OCO connection.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12197809177884" alt="Screenshot_3.jpg"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>This connection is also visible on the chart when one of those orders is selected. You can move them freely and change their position on the chart with no impact on your OCO connection.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12197809181980" alt="Screenshot_1.jpg"></p>
<div class="intercom-interblocks-callout">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="notes"><strong>Attention<br></strong>If one of the OCO orders gets canceled, then the OCO connection will be removed, and the second order will remain open.</p>
<hr>
</div>
</div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_34a690ae66">Situations when OCO order can be used</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>The use of OCO orders is limitless, and you can create an infinite combination of orders connected with each other. At Bitsgap, we strongly recommend using OCO orders for the following strategies: Stop Loss and Take Profit, Buy More, and Exit or Averaging Down.</p>
</div>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_0e8c4c7555">Stop Loss and Take Profit</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>The most common use of the OCO connection is to set up the Stop-Loss and Take Profit combination. To do so, we would need to combine 2 Sell orders of different types.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12197790073884" alt="Screenshot_5.jpg"></p>
<div class="intercom-interblocks-ordered-nested-list">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<ol>
<li>The <strong>Take Profit</strong> order should be Limit. It will place your coins in the order book to be filled by the market. This order will reserve your funds in trades.</li>
<li>The <strong>Stop-Loss</strong> order should be Stop (Stop-Market). The Stop-Market will guarantee exit at the best price available. This order will <strong>not</strong> reserve your funds in trades.</li>
<li>If the Take Profit order is filled, then the Stop Loss order gets canceled, and vice versa.</li>
</ol>
</div>
</div>
<div class="intercom-interblocks-callout">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="notes"><strong>Note<br></strong>The order in which orders you set up trades doesn't affect the final outcome. If your Stop Loss (Stop order) triggers first, the system will cancel the Limit order (to release funds from the order book), and then fill the Stop order.</p>
</div>
</div>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_c6176f4977">Buy More</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>If you are interested in acquiring more base currency when the price is low or when the price rally starts, then the Buy More strategy combined with the OCO option will be a great fit for you. The idea behind this approach is to purchase coins at the lowest price possible or when the resistance breakthrough happens - both options will provide a benefit from the momentum effect or trend reversal.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12197809191708" alt="Screenshot_2.jpg"></p>
<div class="intercom-interblocks-ordered-nested-list">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<ol>
<li>The <strong>Buy Dip</strong> order should be "Limit" to purchase more coins if the price goes down.</li>
<li>The <strong>Buy on Breakthrough</strong> should be a Stop order if the price goes up.</li>
<li>If the price breaks the key resistance and continues the uptrend, then the system will cancel the Limit order on the bottom to release the funds and use them for the Stop Buy order.</li>
</ol>
</div>
</div>
<div class="intercom-interblocks-callout">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="notes"><strong>Note<br></strong>Both orders have different prices, so it is important to make sure that you have enough quote currency on your balance if the Stop order is triggered.</p>
</div>
</div>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_2aaf391925">Exit or Averaging Down</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>The other strategy sells your coins at an acceptable price or averages the buy price down, allowing you to sell the base currency afterward at a lower price. To do so, we would need to combine 2 Limit orders on the Buy and Sell sides.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12197790082588" alt="Screenshot_4.jpg"></p>
<div class="intercom-interblocks-ordered-nested-list">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<ol>
<li>The <strong>Exit</strong> order should be a <strong>Limit Sell </strong>order, which will sell all your coins at the desired price.</li>
<li>The <strong>Averaging Down</strong> order should be a <strong>Limit Buy</strong> order, which will increase the number of coins you are holding and decrease your average purchase price.</li>
<li>If the price goes down and the system fills the Limit Buy order, then the top Sell order gets automatically canceled. Alternatively, if your Sell order gets filled, then the system will cancel the bottom Buy order because there is no need to average this coin anymore.</li>
</ol>
</div>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>These were the 3 most popular uses of OCO orders and how to set them up. However, there are no limits, and you can use this feature to create your own profitable strategy.</p>
<hr>
<h3 id="h_01JJ2EVHQZRBSGPGFCCCE0PJTX">What's Next</h3>
<ul>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/18030543601308">Introduction to Manual Trading</a></strong>: Learn the essentials of manual trading on Bitsgap and discover how to take full control of your trading strategy.</li>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/13091210942364">Launch Your First Bot</a></strong>: Explore the power of automation by setting up your first trading bot on Bitsgap. Unlock new possibilities in crypto trading!</li>
</ul>
<hr>
<h3 id="h_01JJ2EWX5M4TR5WJC97KJJM5AW">Need Assistance?</h3>
<p>If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap <a href="mailto:support@bitsgap.com"><span class="wysiwyg-underline" style="color: #1155cc;">Customer Support</span></a> Team.</p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>

OCO Order (One Cancels the Other)

<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>A Stop-Market order is an order that <strong>buys or sells a cryptocurrency at the market price </strong>as soon as it reaches the trigger level. The general purpose of a Stop order is the <strong>opposite of a Limit order</strong>, where instead of buying or selling cryptocurrency at a specific price, it will be filled at the best price available when triggered.</p>
<hr>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_d094632ef0">The difference between a Limit order and a Stop order</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>There are two main differences between Limit and Stop orders:</p>
</div>
<div class="intercom-interblocks-ordered-nested-list">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<ol>
<li>A <strong>Limit</strong> order is visible for the market participants and can be only filled at a specific price or better.</li>
<li>Unlike a Limit order, a <strong>Stop</strong> order isn't visible in the order book and will be executed at a market price after a trigger price has been reached.</li>
</ol>
</div>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>A Limit order is an order used to buy or sell a coin at a specific price. However, you <strong>cannot set </strong>a limit order to buy a coin <strong>above the market price</strong> because a better price is already available.</p>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>A Stop order will turn into a market order once your stop price is met or exceeded. A Stop order <strong>can be set</strong> <strong>above the current market price.</strong></p>
</div>
</div>
<div class="intercom-interblocks-horizontal-rule"><hr></div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_92ce6a5988">Create Stop-Market order</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="wysiwyg-text-align-center">The Stop order is available only for spot trading and it can be accessed on the <a href="https://app.bitsgap.com/trading" target="_blank" rel="nofollow noopener noreferrer">Trading</a> page. To create a Stop-Market order, head to the trading widget and select the <strong>Stop</strong> tab.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863965263132"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>Now enter the order's parameters:</p>
</div>
<div class="intercom-interblocks-ordered-nested-list">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<ol>
<li>Select a side - Buy or Sell. Please note that the Buy price should be <strong>above</strong> the current price and vice versa; the Sell price should be <strong>below</strong> the current price.</li>
<li>Enter the trigger price in the <strong>Price</strong> field.</li>
<li>Enter the amount of the base currency to buy or sell in the <strong>Amount</strong> field.</li>
<li>Alternatively, you can enter the <strong>Total</strong> amount of the quote currency that should be spent for the buy order or received from the sell order.</li>
<li>
<strong>Optional:</strong> Activate any extra features - Take Profit, Trailing Take Profit, Stop Loss, Trailing, or OCO.</li>
<li>When you are ready, click on the <strong>[Buy/Sell ...] </strong>button to create your Stop-Market order.</li>
</ol>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863956671772" alt="Screenshot_1.jpg"></p>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<hr>
<h3 id="h_474aa676b6">View and manage your open Stop orders</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="wysiwyg-text-align-center">Once you place a Stop-Market order, it will be converted to a "Stop" type in the <strong>Open Orders</strong> tab. You can modify Stop Loss (SL) and Take Profit (TP) levels anytime enabled during the order placement process. To do so, click on the pencil icon.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198193987868"></p>
<p>Enable, disable, or adjust TP and/or SL. Once all the changes have been made, press the [<strong>Save]</strong> button.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11863965278748"></p>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<hr>
<h3 id="h_4a50c53359">Situations when Stop-Market orders can be used</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>There are no limitations to the usability of any service, anything can be used differently based on personal strategies and choices. However, we highlight the two most important use cases where the Stop-Market order can come in handy.</p>
</div>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_e333949d72">Resistance breakout</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>When the price makes a resistance breakout, it usually brings more volume to the market, which will push the price even higher. Your Stop-Market Buy order will guarantee to enter the trade as soon as the key resistance is crossed.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/9965618011676" alt="st5.png"></p>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_950e9e65e6">Support breakout &amp; Eliminating slippage</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>Another use case for the Stop-Market order is to do the opposite on the support breakout when it is necessary to leave the market to prevent further losses. The main difference here between the Stop-Limit and the Stop-Market is that the Stop-Market order will ignore the slippage that may occur in the order book and will guarantee that your coins will be sold at the best price possible.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/9965598052252" alt="st6.png"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<hr>
<h3 id="h_01HM8NMVB97M289Z02CFNVQECZ">Trailing for Stop-Market Order</h3>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>The Stop-Market order has an extra Trailing option that will follow the price and move your open order accordingly. This option is helpful in situations when you want to shift your open Stop-Market order if the price is moved by a certain percentage. It will allow you to set the stop-market order and leave the automation to do the rest with no need to move your order manually.</p>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>To enable the Trailing feature, toggle the "<strong>Trailing</strong>" option while configuring your Stop-Market order.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198123872284" alt="Screen Shot.png"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>After, when the Trailing option is enabled, enter the Price step percentage (%) to define at what distance from the current price Trailing should move the order.</p>
</div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h4 id="h_0aba22ad4e">Control the price step when Trailing moves the order</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>Trailing will move the order when the price changes by a set percentage in the price step. You can set up the Price step as a minimum of 0.2%. Here is a step-by-step example of how this feature will work in real trading:</p>
</div>
<div class="intercom-interblocks-ordered-nested-list">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<ol>
<li>BTC price is 45k, you want to place a Stop order to buy the coin at 47k with a Price step of 5%.</li>
<li>As soon as the price drops by 5% i.e. to 42.75k, your Stop order will be moved to 44.65k (by 5%).</li>
<li>If the price continues to go down, the order will be moved when the price deviation will be 5% again.</li>
</ol>
</div>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>As you can see, the Trailing triggers every 5% and move the open order by 5% down or up from the previous position.</p>
</div>
<div class="intercom-interblocks-callout">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="notes"><strong>Tip<br></strong>If you do not want to miss a single move, then you can set it up to a minimum of 0.2% and this setting will increase the frequency when the trailing should move the order.</p>
</div>
</div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h4 id="h_309aaba512">Situations when Trailing can be used</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>There are two trading situations when you can consider using the trailing for your Stop-Market order: <strong>Buy the Dip</strong> and <strong>Sell the Tip</strong>. Both provide an advantage when opening and closing the trade.</p>
</div>
<h4 id="h_01HM8NRRXCMM6B3155C8ZP77KS" class="intercom-interblocks-subheading intercom-interblocks-align-left">Buy the Dip</h4>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="wysiwyg-text-align-center">Adding Trailing to your Stop-Market buy order can give you an advantage of a better entry price. Trailing will follow the price down and move the open order until the price reverses and hits it. This way, you can enter the trade at the best price possible, which will provide better results in comparison to an earlier uncertain entry.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198123882140" alt="t2.png"></p>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_1055c24a73">Sell the Tip</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="wysiwyg-text-align-center">Another possible use for Trailing is adding it to your Stop-Market sell order which will exit the trade at the best possible price by following the price upwards. This feature is also known as <strong>moving trailing stop</strong>. In this case, Trailing will follow the price up and move the open order until the price reverses and hits it. This way, you can sell your coins at the top and avoid moving your Stop orders manually.<img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198099292700" alt="t3.png"></p>
<hr>
<h3 id="h_01JJ2ECJDMG2070NQPVF4AZJR7" class="wysiwyg-text-align-left">What's Next?</h3>
<ul>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/9966515448092">Learn More About OCO (One Cancels the Other) Orders</a></strong>: Discover how OCO orders combine two orders to manage risk and automate your trading strategy effectively.</li>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/13091210942364">Try Our Bots: Launch Your First Bot Today</a></strong>: Experience automated trading by setting up your first bot on Bitsgap and unlocking new trading possibilities.</li>
</ul>
<hr>
<h3 id="h_01JJ2EDQQ990DCECTEWHD92BNQ">Need Assistance?</h3>
<p>If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap <a href="mailto:support@bitsgap.com"><span class="wysiwyg-underline" style="color: #1155cc;">Customer Support</span></a> Team.</p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>

Stop-Market Order

<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p><strong>Trailing Take Profit</strong> (TTP) is a dynamically changing order created to catch the rise and maximize profit as much as possible. TTP is designed to increase your profit by keeping a trade open as long as the price moves in your desired direction. The order is executed if the price hits the trailing profit level.</p>
</div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_250ffe9b14">How to activate Trailing Take Profit?</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>The TTP feature is available only for spot trading and can be accessed on the <a href="https://app.bitsgap.com/trading" target="_blank" rel="nofollow noopener noreferrer">Trading page</a>. To create an order with TTP, head to the trading widget and select the type of order you need.</p>
</div>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_7195e8c347">Step 1: Filling initial order parameters:</h4>
</div>
<div class="intercom-interblocks-ordered-nested-list">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<ol>
<li>Select the order <strong>type</strong> (Limit, Market, or Stop).</li>
<li>Select the <strong>side</strong> (Buy or Sell).</li>
<li>Set up your order details (Price and Amount or Total).</li>
</ol>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11865964518940" alt="Screenshot_2.jpg"></p>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_63a71db5f7">Step 2: Adjusting TTP settings</h4>
</div>
<div class="intercom-interblocks-ordered-nested-list">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<ol>
<li>Activate the Trailing Take Profit option.</li>
<li>Enter the <strong>Target price</strong>. This is where the TTP should be placed initially and filled if the price falls or rises to that level.</li>
<li>Enter the <strong>Trigger price</strong>. This is when TTP should become active. The price should hit this level to place TTP at the Target price.</li>
<li>Specify the <strong>Trailing step</strong>. Enter the price step percentage (%) to define how often TTP should be moved to follow the price. For example, the trailing step of 0.5% means that TTP will be moved each time the price moves by 0.5%.</li>
<li>
<strong>Optional</strong>: Activate extra features such as Take Profit, Stop Loss, etc.</li>
<li>When ready, click the <strong>[Buy/Sell ...]</strong> button to place your Smart order.</li>
</ol>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11865945440156" alt="Screen Shot.png"></p>
<div class="intercom-interblocks-callout">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="notes"><strong>Note<br></strong>When choosing a Buy order, TTP will trail upwards. If selecting a Sell-side, the TTP order will trail downwards.</p>
</div>
</div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_e1f3cdfe87">View and manage your open orders with Trailing Take Profit</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>Once you place the order, it will be converted to an SL/TP type in the "<strong>Open orders"</strong> tab. From there, you can modify the SL, TTP, and TP levels. To do so, click on the pencil icon.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198318803612" alt="Screenshot_1.jpg"></p>
<p>Enable, disable, or adjust TP, TTP, and SL. Once all the changes have been made, click [<strong>Save]</strong>.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/11865964531996"></p>
<p>When the order is filled, you will receive a notification on the platform about successful order execution. The order will be moved from the "<strong>Open orders</strong>" tab to <strong>Positions</strong>.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198318808604" alt="Screen Shot 2024-01-16 at 11.30.31 .png"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>You may check your notifications on the Portfolio page or by clicking on the Bell icon located next to your profile icon.</p>
</div>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_8f86de5d5b">Specifications of orders with Trailing Take Profit</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>The Trailing step cannot be lower than 0.2% and higher than 200%. If it's set at 5%, trailing will be triggered every 5% and move the open order by 5% down or up from the previous position.</p>
</div>
<div class="intercom-interblocks-callout">
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p class="notes"><strong>Tip<br></strong>If you do not want to miss a single move, then you can set the Trailing step to a minimum of 0.2% - this will increase the frequency when trailing should move the order.</p>
</div>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>Before TTP gets triggered, your Target Price (the price of execution) will be grey.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/9966832382876" alt="tp6.png"></p>
<p>Once the price hits the Trigger Price, your <strong>Target Price</strong> will become green (activated) and the <strong>Trigger Price</strong> level will be removed from the chart.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/9966814764956" alt="tp7.png"></p>
<div class="intercom-interblocks-heading intercom-interblocks-align-left">
<h3 id="h_921579a210">When the Trailing Take Profit can be used</h3>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>We would like to highlight the two most important use cases where the TTP feature comes in handy.</p>
</div>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_88e7c61634">Combining Take Profit with Trailing Take Profit</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>The 1st use for TTP is adding it to your order, which will sell your position in portions, distribute the amount between your Take Profit orders, and leave some coins for maximizing gains with TTP.</p>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>TTP will sell your coins will be sold at the best possible price by following the price upwards or downwards (depending on the chosen side). In the example below, the Take Profit orders sell a fixed amount of coins at the specified prices and then leave the rest for TTP to accumulate profit as the price continues to increase. This will allow you to maximize the potential profit by allowing trailing to move your Trailing Take Profit and then execute it when the price drawbacks.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/9968830101532" alt="tp8.png"></p>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>Besides, many users used to move their Stop-Loss order manually or change its position and activate the trailing option. Now you are able to do both, set Trailing Take Profit and Trailing Stop-Loss.</p>
</div>
<div class="intercom-interblocks-subheading intercom-interblocks-align-left">
<h4 id="h_3338da16c7">Buy the dip, sell the tip</h4>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>Adding TTP to your Trailing Stop-Market buy order can give you an advantage of better entry and exit prices. The Stop-Market with activated Trailing will move the entry order as the price falls and execute when the trend reversal happens.</p>
</div>
<div class="intercom-interblocks-paragraph no-margin intercom-interblocks-align-left">
<p>After that, Trailing Take Profit will follow the price on the rise and execute the sell order when the drawback takes place. This setup allows you to purchase the coin at the best price possible when the rally begins and sell it at the top when the price starts to fall.</p>
<p class="wysiwyg-text-align-center"><img src="https://bitsgap4907.zendesk.com/hc/article_attachments/12198418507804" alt="Screenshot_1.jpg"></p>
<hr>
<h3 id="h_01JJ2FKSM8K25TRKXRSN3NHX65" class="wysiwyg-text-align-left">What's Next</h3>
<ul>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/9965430936476">Learn More About Stop-Market Orders</a></strong>: Understand how Stop-Market Orders can help you execute trades automatically once a specific price level is reached.</li>
<li>
<strong><a href="https://bitsgap4907.zendesk.com/hc/en-us/articles/13091210942364">Try Our Bots: Launch Your First Bot Today</a></strong>: Experience automated trading by setting up your first bot on Bitsgap and unlocking new trading possibilities.</li>
</ul>
<hr>
<h3 id="h_01JJ2FNA7BPJ5NV91B4FAJGAV5">Need Assistance?</h3>
<p>If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap <a href="mailto:support@bitsgap.com"><span class="wysiwyg-underline" style="color: #1155cc;">Customer Support</span></a> Team.</p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>