Hi
It is both really, depending on the conditions you set.
For example:
Trigger 1 lays the fav
Trigger 2 greens up
Trigger 3 distributes loss
You only want either Trigger 2 or Trigger 3 to fire depending whether your position in profit or in a loss. So you would put in conditions to do this.
Internally, the program reads through the whole list of triggers and conditions in the trigger file and actions each trigger and it's conditions.
Best way to understand it is to try making a trigger yourself and try it in test mode.
Have a look at this video:
http://marketfeeder.co.uk/screenshots/creating-triggers/creating_trigger.html edit: although that video is for the previous version, the principle is the same.
In the example you give, yes, Trigger 2 will fire.