We have all been waiting for stop-loss to arrive on Bibox. The waiting period is almost over as the function can now be found on Bibox under the name “Trigger Order”. In addition, Bibox also added an order type named Iceberg order. What are these order types? How do their work? Why can’t I use them on Bibox?
The iceberg order function and the trigger order function has not yet been fully implemented on the Bibox exchange. They are in a trial version, but we can expect them to arrive everywhere within shortly. At the moment you can use the Iceberg and the Trigger order at the following markets:
Trigger order = Stop Loss
I have good news, as the Trigger Order is what we have been waiting for so long – Stop Loss. Bibox describes the Trigger Order in the following way:
- A token costs 0,00480 BTC – You believe it will boost once it reaches 0.00501, and therefore you set a trigger order which will go live once the price passes by 0.00501
- A token costs 0,00480 HTC – You don’t want to lose money, so if it should go down to 0,00450 BTC you want to place a sell order.
The iceberg order is a very brilliant function that will make it easier for you to buy or sell a large amount of tokens, without scaring off the traders. Here you can tell the system that you want to sell off 10,000 tokens (for example), but you will sell them 1000 tokens at a time. In that way, it will look nicer in the order books, and once one order has been sold or bought, a new order will be placed, all varying within a set percentage of your limit price.