Order trigger times are designed to prevent the submission of conditional orders at disadvantageous prices during extreme market fluctuations. These conditional orders include stop limit orders, stop orders, limit-if-touched orders, trailing stop limit orders, and trailing stop orders.
By setting order trigger times, you can specify how many times a particular condition must be met within one minute before your order is submitted.
Suppose you place a stop order with a trigger price at 10 HKD, and you set an order trigger condition as follows:
Case 1
Within one minute, the following quotes are observed:
|
Quote (HKD)
|
10.13
|
8.24
|
8.85
|
12.08
|
9.63
|
10.32
|
|
Trigger Price Met
|
✅
|
|
|
✅
|
|
✅
|
As the trigger price of 10 HKD is met three times, the stop order will be submitted when the quote reaches 10.32 HKD.
Case 2
Within one minute, the following quotes are observed:
|
Quote (HKD)
|
10.18
|
8.25
|
10.83
|
7.05
|
9.60
|
8.64
|
|
Trigger Price Met
|
✅
|
|
✅
|
|
|
|
As the trigger price of 10 HKD is only met twice, the stop order will not be submitted.
● Low Trading Volume: For securities with low trading volumes, setting a high trigger count may result in the order not being triggered at all.
● Default Trigger Count: The default trigger count is one, meaning the order is submitted as soon as the trigger condition is met once.
● Trading Session: The order trigger condition is only active during the trading session you specify.
● Real-time Monitoring: The system continuously monitors real-time quotes throughout your specified trading session and will submit the order as soon as the trigger condition is met within one minute.