BingX Perpetual Futures is bringing out Trigger Reverse, which allows users to reverse their positions automatically once their triggering conditions are met and capture the market movements swiftly!
1. What Is Trigger Reverse?
Trigger Reverse is a feature where users preset a trigger price and when the price reaches the trigger price, the current position will be closed at market price and a same-size position in the opposite direction will be opened. If the margin is insufficient, the opposite position will be opened using the maximum margin available instead. This feature helps users take profits or stop losses quickly and seize the dynamic market opportunities.
Example: User A opens a long position of 1 BTC at the price of 24,000 USDT and configures Trigger Reverse with a trigger price of 23,000 USDT. When the BTC price drops to 23,000 USDT, the Trigger Reverse is triggered to close the long position at the market price and open a short position of 1 BTC.
*Notes:
1. Trigger Reverse does not guarantee a 100% success in reversing positions due to factors such as market changes, margin or risk control.
2. Trigger Reverse, when triggered, will cancel other pending limit orders that are intended to close positions.
2. How to Enable Trigger Reverse?
On the position page, click "Reverse" - "Trigger Reverse" and set your trigger price. Click "Confirm" to complete the setup.
Users can choose from mark price and last price as the basis for price triggering.
3. How to Modify/Cancel Trigger Reverse?