In a word, if you place a buy order, the order will execute at market price only when the last price is less than or equal to the trigger price and the callback range is greater than or equal to the callback ratio. Instead, a sell order will execute at market price when the last price is at or above the trigger price, and the callback range meets or exceeds the callback ratio.

After filling in the parameters for the trailing stop order and successfully placing the order, the assets will not be frozen. When the trailing stop order is triggered:

1) If the available assets in the Spot Wallet are greater than or equal to the total order amount (quantity), then a market order will be placed for the total order amount (quantity).

2) If the available assets in the Spot Wallet are less than the total order amount (quantity) but greater than or equal to the minimum total order amount at market price, then all available assets in the Spot Wallet will be used to place a market order.

3) If the available assets in the Spot Wallet are less than the minimum total order amount at market price, then the order cannot be placed, and the system will automatically cancel the order.

2. Terminology Description

Trigger Price: When the “Last Price” reaches the set “Trigger Price”, the trailing stop order is triggered.

Callback Ratio: After reaching the trigger price, a market buy or sell order is executed when the market retracement meets the set “Callback Ratio”.

Total Buy Amount: After meeting the “Trigger Condition” and 'Callback Ratio', the market buy is executed according to the total buy amount.

Sell Quantity: After meeting the “Trigger Condition” and “Callback Ratio”, the market sell is executed according to the sell quantity.

Note: To ensure users’ benefits and avoid misoperation, FameEX has set the following restrictions:

1) When buying, the trigger price of the order must be less than the last price.

2) When selling, the trigger price of the order must be greater than the last price.

3) The limitation condition for the callback ratio should be set within the range of 0.01% to 10%.

3. Examples in BTC/USD

1)  Buy

The current price of BTC is 28,000 USDT. It is anticipated that the price of BTC will continue to decline, but there might be a market rebound after reaching a certain price point. Therefore, if you wish to buy at market price when the rebound reaches the set “callback ratio”, you can set a trailing stop order as follows:

When the BTC price continues to drop from 28,000 USDT to a minimum of 26,500 USDT, where 26,500 USDT ≤ Trigger Price 27,000 USDT, this condition is met. Subsequently, the market rises, and if it rises to 26,765 USDT, the callback ratio at this point is (26,765 - 26,500) / 26,500 = 1%, meeting the callback ratio requirement. Therefore, a market order buy is triggered with the market price as the order price, and the total order amount is 50 USDT.

2) Sell

The current price of BTC is 28,000 USDT. It is anticipated that the price of BTC will continue to rise, but there might be a market pullback after reaching a certain price point. Therefore, if you wish to sell at market price when the pullback reaches the set “callback ratio”, you can set a trailing stop order as follows:

When the BTC price continues to rise from 28,000 USDT to a maximum of 29,500 USDT, where 29,500 USDT ≤ Trigger Price 27,000 USDT, this condition is met. Subsequently, the market declines, and if it drops to 28,710 USDT, the callback ratio at this point is (29,000 - 28,710) / 29,000 = 1%, meeting the callback ratio requirement. Therefore, a market order sell is triggered with the market price as the order price, and the total order amount is 0.5 BTC.