Articles on: Trading Essentials

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

The Start position at triggers 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.
From v4.3, Start position at time is offered. Earlier versions do not include this function.

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, using the same coins.
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, or a specified time period has elapsed.
placing orders on more than one market using the same coins. And whichever is reached first is placed. Note that, the second order will not be automatically cancelled, and if there enough coins available to place at least one entry for the second position, then both positions will potentially be opened once their triggers are reached.

The Start Position triggers 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. Note however, that the Stop entry orders awould not usually be combined with a Start trigger postion, since the trigger and the Stop order achieve essentially the same thing.

How set the Start Position at Price trigger

Create your Entry Order as usual
Optionally, add Take Profit and Stop Loss orders.
Open the section Expirations/Autoclose
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 OR
drag the blue price handle to the required price OR
click the eyedropper icon and select a price on the chart OR
enter a percentage value. The percentage is offset from the Current price.

Set a trigger to start a position at a specified price

How set the Start Position at Time trigger

Create an Entry Order as usual
Optionally, add Take Profit and Stop Loss orders.
Open the section Expirations/Autoclose
Switch on Start Position at
Select the time when you would like your position to start:
Select the time interval for the trigger (minutes, hours or days) and enter a numeric value for the number of minutes/hours/days OR
drag the vertical blue line on the chart OR
Click the eyedropper icon to select the start time on the chart (a smaller chart timeframe allow for more precise selection, e.g. 5m chart) OR
click in the entry field to open the calendar, and select the date and time (image below).

Starting a position 2.5 days in the future (using the eyedropper tool)

Click in the Price field to open the Calendar and set an exact date and time

Once the order is placed

The Trigger price is visible on the chart as a blue line (see below). This will be horizontal (for Price trigger) or vertical (for time trigger). The colour can be customised in the Altrady Chart Settings
Orders for the Position are shown as Pending in My Orders (Open)
An unfilled position will be visible in My Positions (see below)

1. Start Position at Price and 2. Start Position at Time  -- orders placed

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

An empty position is included in My Positions, Position Info widget etc. for easy editing

When the Start at trigger is reached

Altrady will attempt to place the entry orders on the exchange and the position will proceed as usual.

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

If not enough funds are available to open all entry orders:
as many entry orders as can be placed will be placed using the available quote currency (long spot and all Futures positions) or base currency (short spot positions), 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.
Start Position at is not available for smart positions where an entry has already filled or part-filled.

Important Notes

Both triggers (Start at Price and Start at Time) can be conbined in one position. When either trigger is reached, the position will be opened and the second trigger is cancelled.
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 position will be cancelled with an error: "Insufficient Balance"
If the trigger price has been passed and the entries do not seem to have been placed, 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: 24/12/2023

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