A conditional order, also known as a stop-loss, is an order type that is activated when the conditions you specify regarding prices are met. By using the feature in the Paribu mobile application, you can ensure that your order is forwarded to the trading board when the condition you set is met.
For example, you can follow the steps below to execute the command “If the price drops to 45,000 TL, place a sell order for 1 Bitcoin at 44,500 TL”:
- In the Paribu mobile application, the “Condition” option is clicked.
- The trigger price (45,000 TL in the example) is written in the TL section of the condition.
- The price that is the subject of the transaction order (for example, 44.500 TL) is entered in the TL section of the order.
- In the BTC part, the amount subject to the order (1 BTC in the example) is written.
Upon completion of these steps, a conditional order for sale is established.
You can also use the conditional order feature in your buying transactions.
For example, you can follow the steps below to execute the command “If the price increases to 50.000 TL, place an order to buy 1 Bitcoin from 51.000 TL”:
- In the Paribu mobile application, the “Condition” option is clicked.
- In the TL section of the condition, the trigger price (for example, 50,000 TL) is written.
- The price subject to the order (51.000 TL in the example) is entered in the order TL part.
- In the BTC part, the amount subject to the order (1 BTC in the example) is written.
Upon completion of these steps, a conditional order is established for buying.
By using the conditional order feature, you can prepare your own orders and make them active when the conditions are met.
Although the price touches your condition price, the market may move in the opposite direction again before it’s your turn. In such cases, although the condition may seem to have occurred for a moment, your order may not be fulfilled because the price turns in the opposite direction before it is your turn.
Leaving some margin between the condition TL price and the order TL price increases the probability of your order being executed.
