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Trailing Reversal Order

2018-12-14 18:11:15Read:16783

1. What is trailing reversal order?

Trailing reversal order is a conditional order that allow you to automate trades when there is a market reversal. When the last price on the market reaches the threshold of highest/lowest price (1+/- designated reversal rate) , the trade strategy is triggered. The highest/lowest price is the highest or lowest price it has since this conditional order is placed.

2. How to calculate the Reversal Rate:

For buy order, trailing reversal order follows the lowest price.

Rally rate= (Last price-lowest price)/lowest price *100%;

Where the lowest price is the lowest price it has since the conditional order is placed.

For sell, trailing reversal order follows the highest price.

Correction rate=(highest price-last price)/highest price *100%

Where the highest price is the highest price it has since the conditional order is placed.

3. What criterion should be met to trigger a trailing reversal order?

3.1 If activation price is defined, the following criterion should be satisfied to trigger a trailing reversal order:

For buy order, the market price should be greater than or equal to the activation price,

And the Activation price should be greater than or equal to the lowest price

And the rally rate should be greater than or equal to the defined reversal rate.

The lowest price is the lowest price it has since the conditional order is placed.

See figure 1-1

For Sell order, the market price should be less than or equal to the activation price,

And the Activation price should be less than or equal to the highest price

And the correction rate should be greater than or equal to the defined reversal rate. See figure 1-2

3.2 If no activation price is defined, the trailing reversal order will be triggered when:

For buy order, the rally rate should be greater than or equal to defined reversal rate;

For sell order, the correction rate should be greater than or equal to defined reversal rate.

4. What is the Valid duration?

The valid duration starts from the moment this trailing reversal order is placed. Before expiration time, the conditional order will monitor price change and will be triggered if conditions are met. The conditional order will be canceled, if not activated, at the end of valid duration.

5. What is IOC(immediate or cancel?

In the case a conditional order is triggered and a limit order is placed, the order must be filled immediately at the limit price or better only. If the order cannot be filled immediately or fully (i.e. Only partially filled), the unfilled portion will be canceled.

6. Is it possible for trailing reversal order to be triggered more than one time?

No. Trailing reversal order can only be triggered once at most within its valid duration. Once it is triggered, the lifespan of this conditional order ends.

7.Cannot find limit order after my trading reversal order is triggered. Why?

Consider the following two scenarios:

1) the available balance is not enough and no order is placed successfully

2) the order fills immediately or IOC is turned on where the unfilled portion is canceled immediately. In that case, you can check records under Trades tab.

8. Examples

8.1 Buy EOS Order


Suppose the current market price is 11 USDT per EOS. User A places a trailing reversal order and set activation price as 10.5 USDT/EOS, reversal rate 2%. He plans to buy in EOS with USDT when the conditions are met at the price of 0.0001 USDT higher than the last price. This order is valid for 1 day.

Suppose the EOS price drops from 11 USDT to 10 USDT and then increases again during this day. If the EOS price increases to 10.2 USDT after hit a 10 USDT low, the reversal rate now is (10.2-10)/10=2%, which satisfy the Reversal Rate condition. However, as the price 10.2 is lower than the activation price 10.5 USDT, this conditional order will not be triggered at this point If the price continues to rise and reaches 10.5 USDT, this conditional order will be triggered.

8.2 How to Check Orders yet to trigger?

Conditional orders yet to trigger are under Order tab. Click Trailing Reversal under Orders tab to view all the trailing reversal orders yet to trigger.

8.3 How to check historical conditional orders?

Triggered orders will go to Trades tab. Go to Trailing Reversal under Trades tab to check the historical conditional orders. For trades, go to Trades for Limit orders.