Automation changes how orders are managed. It does not remove execution risk.
Chase follows a changing quote
A chase instruction adjusts a limit order in response to the market according to its settings. It aims to keep working near relevant quotes rather than leaving a limit at one fixed price.
That convenience can also mean buying higher or selling lower as the market moves. Inspect the configured distance, status, and filled amount. Availability and execution behavior depend on the selected market and service.
Iceberg controls visible execution size
An iceberg works a total amount through smaller visible portions. The full intended amount and the visible portion are separate inputs. Both must satisfy the market’s constraints.
A smaller visible order does not guarantee anonymity or a better average price. Other traders can observe repeated executions, and a limit constraint can leave part of the total unfilled.
Trailing stops move in one direction
A trailing stop tracks favorable movement and activates after a specified retracement. For a long exit, the reference follows favorable upward movement; for a short exit, it follows favorable downward movement.
A percentage trail is not a fixed dollar loss cap. Check any activation setting and the eventual trigger. Monitor automated orders after changing or closing the underlying position, rather than assuming they all cancel together.
A percentage trail
A 5% trail referenced to a favorable high of $120 corresponds to a $114 trigger in a simplified example. It is not 5% below the original $100 entry, and the eventual fill can differ from $114.
Illustrative figures only. Not a price forecast or trade recommendation.Further reading
Protocol details and market rules can change. Check the current specification before trading.
Educational content, not investment advice. Trading perpetuals can result in substantial loss. Market access is subject to eligibility and location. Product disclosures.