Order Types
Order Types
1.Limit Order
A limit order lets you place an order at a specific price or a more favorable price. However, there's no guarantee that a limit order will be filled.
Limit buy orders are executed if the price of the asset hits the limit price or falls below that price.
Limit sell orders are executed if the price of the asset hits the limit price or rises above that price.
2.Market Order
A market order is a buy or sell order that gets filled right away at the best price currently available on the market. Market orders require liquidity to be filled, which means that the order is executed based on the limit orders that were previously placed on the order book.
3.Stop-Limit Order
A stop limit order is a conditional order set to execute during a specific time range. This type of order is executed at a specified LIMIT price after the asset reaches that price. Once the stop price is reached, the asset will be bought or sold either at the LIMIT price or at a more favorable price than the one you set.
4.Stop-Market Order
A stop market order is a stop order that when triggered, the system will send out as a market order at the current market price. This allows your order to be filled right away.
5.Trailing Stop Order
A trailing stop order refers to a strategy where you pre-set an order to be executed when the market has a significant correction, or callback. When the last market price reaches the highest (or lowest) price you set on your trailing stop order (1 ± callback rate), the order will be triggered and sent to the order book at the market price.
Refer to the article What is a Trailing Stop Order? for more information.
6.Maker Order (Post only)
A Maker (Post Only) order is not immediately executed on the market, which ensures that your order is always placed as a Maker order. If the order cannot be executed immediately by filling an existing order on the order book, it will be canceled. This type of order can help you reduce the cost of trading fees.
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