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A Conditional Limit order waits for a price condition, then places a limit order at the Price and TIF you choose. Select Cond. Limit in the order form. Unlike a Stop Limit order, the trigger can watch a different market from the one you trade. It can also use the best bid or best ask, and the resulting order can use any time-in-force.
Conditional limit order form with limit price, trigger settings, TIF selector and TP/SL

BTC Conditional Limit form with separate trigger and limit prices.

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How it works

  1. Pick the Trigger Symbol. It defaults to the market you are trading, but you can watch another market on Pacifica.
  2. Choose ≥ Above or ≤ Below, then enter the Trigger Price.
  3. Choose the Trigger Condition price source: Mid, Mark, Last, Best Bid or Best Ask.
  4. Enter the Amount, limit Price and TIF, then choose your side.
  5. When the chosen price meets the condition, Pacifica submits the limit order. Its time-in-force determines what happens to any unfilled amount.
If the condition is already true when you submit, the form warns you and the order can trigger as soon as the condition is evaluated. The strategy submits one order and does not trigger again.

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Settings

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Example

You expect BTC to bounce after a dip and want to place a limit buy when its mid price reaches $95,000:
  • Select Cond. Limit, with Trigger Symbol set to BTC, ≤ Below $95,000 and Trigger Condition set to Mid.
  • Set Price to $94,900, TIF to GTC and Amount to 0.1 BTC.
  • When mid reaches $95,000 or lower, a GTC limit buy at $94,900 is placed. Any unfilled amount rests until it fills or you cancel it.

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Good to know

  • Reaching the trigger does not guarantee a fill. The market may move away from your limit price.
  • Use ALO for a post-only order or TOB for a top-of-book order. See Time-in-force.
  • Open conditional orders appear in Strategies, under Conditional Orders. A resting limit order appears in Open Orders after the trigger.
  • To place a market order when the condition is met, use Conditional Market.