Trailing

Trailing (or trailing stop) order follows the market price at the chosen distance when it moves in your favor, but stays in place when it moves against you.

When the market price touches the order, the swap is triggered.

Trailing order can be used to enter a position (buy coin) at a lower price at the exact moment the price stops falling and starts going up:

trailing buy moves lower each time the market price moves lower, but stays in place when it rises

Trailing stop can also be used to exit a position (sell coin) at a higher price at the exact moment it stops growing and starts falling:

trailing sell moves higher each time the market price moves higher, but stays in place when it falls

Setting up trailing buy order

To set up a trailing buy order, enter the coin you want to buy into the 'Get' field and choose the distance that you want your order to follow the market price at:

In this example I'm buying 100m PEPE with a 10% follow distance. This means that my order will initially be placed 10% above the current market price. If the price moves lower (PEPE becomes cheaper), the order will move lower automatically (to keep at 10% from the new, lower market price).

If the price will rise, the order will not move. This means that it will be triggered when the price rises 10% from the lowest point it reaches after I create the order.

The worst case scenario in this example is that the price will rise 10% or more immediately after I create the order. In this case, I will buy PEPE at 10% higher than I could have bought at if I sent a swap order instead.

The amount in the 'Spend' field reflects this worst case scenario - that's why it says 'Not more than:'. That's the amount you'll spend if the price goes against you (rises) right away and never moves in your favor. If the price goes lower even a bit - you'll spend less.

To ensure that I will buy cheaper than the market price at the time of the order creation, I need the price to fall 10% or more.

Keep the above in mind when choosing your 'Follow price at' percentage: you need to set it high enough so that the order will not be triggered by short-term market movements. But not too high - since it will increase the probability that the price never moves in your favor enough.

The best 'Follow price at' distance will depend on the volatility of the coin you are buying and the general market volaitilty at that moment. More volatile coins and more volatile market generally require higher 'Follow price at' percentage.

Setting up trailing sell order

To set up a trailing sell order, enter the coin you want to sell into the 'Spend' field and choose the distance that you want your order to follow the market price at:

Note, that the chart shows 'Get'/'Spend' (ETH/PEPE) price by default. Switch it manually to 'Spend'/'Get' (PEPE/ETH) for a more intuitive order setup (switching the chart does not affect the order, but makes it easier to understand the setup):

In this example I'm selling 100m PEPE with a 10% follow distance. This means that my order will initially be placed 10% below the current market price. If the price moves higher (PEPE becomes more expensive), the order will move higher automatically (to keep at 10% from the new, higher market price).

If the price will fall, the order will not move. This means that it will be triggered when the price falls 10% from the highest point it reaches after I create the order.

The worst case scenario in this example is that the price will fall 10% or more immediately after I create the order. In this case, I will sell PEPE at 10% lowerr than I could have sold at if I sent a swap order instead.

The amount in the 'Get' field reflects this worst case scenario - that's why it says 'At least:'. That's the amount you'll get if the price goes against you (falls) right away and never moves in your favor. If the price goes higher even a bit - you'll get more.

To ensure that I will sell higher than the market price at the time of the order creation, I need the price to rise 10% or more.

Keep the above in mind when choosing your 'Follow price at' percentage: you need to set it high enough so that the order will not be triggered by short-term market movements. But not too high - since it will increase the probability that the price never moves in your favor enough.

The best 'Follow price at' distance will depend on the volatility of the coin you are buying and the general market volaitilty at that moment. More volatile coins and more volatile market generally require higher 'Follow price at' percentage.

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Note, that the route and its details, such as price impact and expected gas cost, are based on the current market. Your trailing order, however, will execute at some point in the future. Thus, the route, the price impact, and the gas cost might be different at that point.

Before confirming the swap, choose whether to attach a Stop Loss and/or a Take Profit to this order.

Once you confirm the swap, your traling stop order will immediately appear in the 'Orders' list (at this point it lives on our servers only) as 'Trailing' - meaning it is active and is trailing (following) the market price:

Once the trigger conditions are met (the price moves against you by the follow percentage), the order will trigger and send the swap to the exchange. Once it executes, the order status will change to 'Swapped' and will show actual execution price, actual amount of coins that you received or spent, actual price impact, and the gas cost.