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Trailing-Stop

  • Updated

A trailing stop is a type of stop order that will move with the market when the market is moving away from the stop, but stay in place when the market is moving towards the stop. The maximum distance from the current price is set with the trigger offset value.

The stop can be triggered by the same triggers as our other orders (index price, mark price or last price).

Note: Trailing orders are only available on futures and perpetual products. This type of order is not available on options.

Example of order

For example, bitcoin is trading at $120,000 and the client has a current long position [4]. A trailing stop order is then entered with a trigger_offset value of $5000. This would initially place the trailing stop order at a price of $115,000 [5] ($5,000 lower than the current price). As the price of bitcoin increases to $125,000 [6], the trailing stop order moves up with it to $120,000 [7], maintaining a maximum distance of the trigger_offset value of $5,000. If the price then decreases from $125,000 [6] to $120,000 [8], the trailing stop order will remain at $120,000 and the order will execute when the bitcoin price reaches the price of the trailing stop ($120,000).

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Placing a trailing stop on Deribit

  1. USD or asset selection. Choose whether you want to enter the size of the order in USD or an amount of the underlying asset. Values will be rounded to the nearest valid amount.

  2. RFQ. This button allows traders to send a notification to market makers that indicates they are interested in trading the instrument. This will allow market makers to put a quote into the order book for the requested size. This button is informational only, not an execution mechanism.

  3. A profit and loss calculator.

  4. Order type. Some order types are not available for certain instruments.

  5. Order amount

  6. Trigger Offset - Used to set the maximum distance from the current price for a trailing stop.

  7. Trigger

    • Mark - When “Mark” is selected for the trigger price, the mark price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

    • Last - When “Last” is selected for the trigger price, the last traded price of the instrument reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

    • Index - When “Index” is selected for the trigger price, the index price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

  8. Buy and Sell buttons

  9. Special

    • Reduce (reduce_only) - This setting will ensure the order can only reduce an open position. It can not increase the size of any existing positions, or open any new positions.

  10. The current position size on the selected instrument.

  11. The maximum leverage possible on the instrument.

  12. Take profit as secondary order.

    1. On/Off toggle.

    2. Order type. Some order types are not available for certain instruments.

    3. Trigger Price - The price which once reached, will trigger the placement of the order.

    4. Order price

    5. Trigger

      • Mark - When “Mark” is selected for the trigger price, the mark price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

      • Last - When “Last” is selected for the trigger price, the last traded price of the instrument reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

      • Index - When “Index” is selected for the trigger price, the index price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

    6. Special

      • Reduce (reduce_only) - This setting will ensure the order can only reduce an open position. It can not increase the size of any existing positions, or open any new positions.

    7. Estimated profit if the primary order is filled and then the secondary order is also filled.

  13. Stop-loss as secondary order.

    1. On/Off toggle.

    2. Order type. Some order types are not available for certain instruments.

    3. Trigger Price - The price which once reached, will trigger the placement of the order.

    4. Order price

    5. Trigger

      • Mark - When “Mark” is selected for the trigger price, the mark price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

      • Last - When “Last” is selected for the trigger price, the last traded price of the instrument reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

      • Index - When “Index” is selected for the trigger price, the index price reaching or crossing the chosen trigger price will trigger the placement of the conditional order.

    6. Trigger Offset - Used to set the maximum distance from the current price for a trailing stop.

    7. Special

      • Reduce (reduce_only) - This setting will ensure the order can only reduce an open position. It can not increase the size of any existing positions, or open any new positions.

    8. Estimated profit if the primary order is filled and then the secondary order is also filled.

  14. Initial margin requirement

  15. Position impact PM (portfolio margin).