# Conditional Order A Conditional Order (Trigger Order) is triggered only after a pre-set condition has been met. The trader specifies a trigger price to activate the order. The system currently uses the latest traded price as the trigger condition. **Note**: Before triggering, the conditional order does not require any margin. This means traders can place any conditional order, but if the account lacks sufficient margin at the trigger time, the order will fail. Currently, two types of conditional orders are offered: **Conditional Limit Order**\ When the price reaches the pre-set trigger price, limit orders enter the order book at their specified limit price. **Conditional Market Order** When the price reaches the pre-set trigger price, a market order is executed at the best available price at that time. **Conditional Order Scenarios** Conditional orders are often used in the following scenarios: * **Chasing Up**: For an open position, the trigger price is set above the current level. If the price breaches the upper level, it triggers a buy order to ride the uptrend. * **Close Down**: For an open position, the trigger price is set below the current level. If the price falls below the lower level, it triggers a sell order to exit the position. * **Take Profit**: For an open position, the trigger price is set at the desired profit target level. If the price reaches this level, it closes the position at the take-profit level. * **Stop Loss**: For an open position, the trigger price is set at the maximum acceptable loss level. If the price reaches this level, it closes the position at the stop-loss level. **Example** Chasing Scenario: when BTC is at $95,000, a trader predicted that if BTC broke through $100,000, it would accelerate its rise, and if it could not break through $100,000, it would not rise in the short term. To test this, the trader placed the following conditional order: "If the BTC price reaches $100,000, I'll buy and open one more BTC position; otherwise, leave it as is." Since the trader did not know whether and when BTC could reach $100,000, they could not constantly monitor the market. So, they placed a conditional order with the following parameters: Trigger Price: $100,000 Order Direction: Buy\ Order Type: Market Order Order Quantity: 1 BTC The execution logic of this conditional order is: it acts like a robot monitoring the market price. When the market price reaches the $100,000 trigger price, the robot immediately submits a market order to Buy 1 BTC. This market order will typically execute immediately, allowing the trader to open a long 1 BTC position around $100,000. This scenario illustrates the use of a conditional order for chasing an upward breakout. Similarly, conditional orders can also be used to close down a position. In addition to entering new positions on breakouts, conditional orders can also be used to close existing positions, utilizing the take-profit and stop-loss scenarios. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://whitepaper.nomoex.com/our-product/nomodex/functions/conditional-order.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.