Cryptsy Blog New "Triggers" Feature

Cryptsy Blog New “Triggers” Feature

A trigger is a signal you give to the system that you wish to place an order at a future date when certain parameters are met for a market.

Triggers do not show up in the order books, since they are not active orders. Triggers can be used for such things as Stop-Loss. When a triggers parameters are met, an order is created on your behalf according to your trigger settings. The type of order that gets created when a trigger is activated is called a “Fill Or Kill” order. Which means that the order will be placed for the maximum amount you select and any remaining quantity that is not filled immediately will be cancelled. Settings: Trigger Type: This is either Buy or Sell depending on the type of order you are wanting to create. When Price Reaches: This is the price that will activate the trigger. When the prices in the order books is equal to or crosses this price, then the system will generate the order. Make Order Price Of: This is the price at which your orders will execute. If you are placing a Buy trigger, then this amount should be equal to or more than the trigger price. If you are placing a Sell trigger, then this amount should be equal or less than the trigger price. Up To Quantity: This is the maximum quantity you wish to buy or sell. The amount you will be able to place into an order will also be limited by the funds you have available. For example: if you have a trigger to sell 1000 units but only have 500 available, then the order placed will be for 500. Expire Time: This is the date your trigger will be cancelled if it is not executed.