How To Use "Limit Order" And "Trigger Order" On zkDX
Last updated
Last updated
To begin, you'll need to connect your wallet to zkDX. If you haven't done so already, please refer to the guide available here:
Once your wallet is connected, navigate to the trade page. Here, you'll find your positions and discover the new features of "Limit Order" and "Trigger Order".
Limit Order: A limit order is a special type of order where you pre-set a price. Once the market price reaches this price level, your order will be executed, creating a new position.
Trigger Order: A trigger order is placed on existing positions. When the market price reaches the specified trigger price, the take profit or stop loss will be executed for the given position.
Start by selecting "Limit" for either long or short positions. Next, enter the desired quantity of assets, the limit price, and the leverage. When the specified price is met, a new buy order will be triggered.
After creating a limit order, you can view it in the "Limit" window.
Choose the position you wish to adjust from the "Positions" tab, then click the "Trigger" button.
Enter the desired quantity of positions to be adjusted along with the corresponding price. For take profit, set a price higher than the current market price, and for stop loss, set a price lower than the market price. The trigger order will be executed once the specified price condition is met, based on the fluctuation of the mark price.
After creating a trigger order, you can manage and modify it as needed in the "Trigger" section.
Please note that trading on zkDX empowers you with complete control over your assets, ensuring security, liquidity, and low transaction fees. Make the most of these new features to optimize your trading strategy.
