Articles on: Trading Essentials

Smart Orders: Start position at ... (hidden orders)

The Start position at trigger can only be added when creating an Entry Order.
It's purpose is to delay placing the entry orders and starting the position until a specified price is reached.

While similar to a Stop Order (Market or Limit), the Start position trigger:
never reserves coins for the entries
allows for more than one entry to be placed at the same time
can be placed above or below the order book (whereas Stop Limit and Market orders can only be placed on one side of the Order Book (The Sell side for a Buy order and vice versa).

This can be useful for:
hiding entry orders until the price is at or close to your first entry order price
placing orders on more than one market using the same coins. And whichever is reached first is placed.

The Start Position trigger can be used with all Entry Order types: Market, Limit, Stop Order, Trailing Stop and Ladder. And with long or short positions. And Spot as well as Futures.

How set the Start Position at trigger

Create your Entry Order as usual
Switch on Start Position at
Select the price where you would like your position to start. This could be close to the entry order price (for hidden orders), or could be above resistance (for a Stop-type breakout order, without reserving coins).
To specify the Price:
click one of the preset values
drag the blue cancellation handle to the required price
click the sysdropper icon and select a price on the chart
enter a percentage value. The percentage is offset from the Current price.

A Start Position trigger near the first entry for a hidden order

Once the order is placed

The Trigger price is visible on the chart as a blue line (see below). The colour can be customised in the Altrady Chart Settings
An unfilled position will be visible in My Positions (see below)

Once the Start at Price trigger is reached, the entry orders will be placed and the blue line will disappear from the chart

All orders are initially Pending for a position using the Start position at...

When the Start at trigger price is reached

Altrady will attempt to place the entry orders on the exchange.
If not enough funds are available to open all entry orders:
as many orders as can be placed will be placed using the available quote currency and starting from the first entry
a notification message is sent, noting how many entry orders could not be placed using the available funds (see image below)
entry orders that could not be placed will show as Pending orders in My Orders and on the chart. Their price handles are darker than Open orders.

Notifications alerting how many entry orders could not be placed for the position, given the available funds

What actions to take if there were not enough funds to place all orders

There is not need to do anything if you are happy with the orders that were placed.
To Open the Pending orders on the exchange:
--add enough funds so the extra orders can be opened
--edit the smart order by clicking one of the price handles
--save the order

To edit the position in any other way when some entry orders are Pending

when the position is edited, Altrady will again try to place those orders. If there are still not enough funds, the order will not be able to be saved after editing. You will need to:
-- remove the Pending entry orders (see below)
-- Place the Order

When editing the order, remove any entries for which there are not enough funds

Editing the smart order

Once an entry order has filled (or part-filled), Start Position at... will no longer be available.
If no entries have yet filled, the Start Position at trigger can be turned on or edited.

Important Notes

Funds for all entry orders must be available when the order is initially placed and if it is edited later.
When the Start Position trigger price is reached, if funds are not available to open any of the entry orders, the positoin will be cancelled with an error: "Insufficient Balance"
If the trigger price has been passed and the entries have not yet opened, click the Resync arrow to update the orders.
The Last price will need to reach (live trading) or exceed (paper trading) the trigger price for approximately one minute to trigger the opening of the position.

Updated on: 03/04/2023

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