China-based bitcoin exchange firm OKCoin officially announced yesterday that it has launched “trigger orders” for its bitcoin futures trading platform.
This is the second algorithmic trade order to be added to OKCoin futures following the release of trigger orders in late 2014. OKCoin claims that it is the only exchange to feature algorithmic trade tools for both spot and futures trading.
On its corporate blog, OKCoin also defined the nature of “trail” and “sell/buy” orders:
Trail orders is for when market prices are fluctuating wildly and traders want to enter a future order into the market. A trail order can be set by choosing the following: (1) a defined price trigger level and (2) a defined percentage change.
A sell/buy order occurs only after two conditions have been met in the following order: (1) the defined trigger level has been breached and (2) the defined percentage change has occurred in the trader’s specified direction.
This month, OKCoin also added a new trading interface and P2P leading to its international trading site.