Order Types

Order types define how trades are executed, giving traders flexibility and control. Understanding the differences between order types is crucial for effective trading.

Our platform supports the following order types:

Market Orders

• Executes immediately at the current market price.

• Use Case: Ideal for fast-moving markets when you need immediate execution.

Limit Orders

• Executes only when the market reaches a specified price or better.

• If the price set in a limit order is worse than the current market price, the order will execute as a market order.

• Use Case: Useful for entering or exiting trades at a specific level, ensuring better control over price.

Stop Orders

• Triggers an order when the market reaches a specified price.

• Use Case: Often used for stop-losses or breakout trades.

When to Use Limit vs Stop Orders

• Limit Orders: Use when you anticipate a price retracement before execution.

• Stop Orders: Use when entering on momentum or as a safeguard against losses.

Take Profit and Stop Loss Relationship

• Stop Loss: A Stop Loss is essentially a Stop Order that triggers a market order to close a position when the market price reaches a specified level, minimizing potential losses.

• Take Profit: A Take Profit is essentially a Limit Order that closes a position when the market reaches the specified price, locking in profits.

Pending Orders and Expiry Time

Pending orders can remain active for a specified period or until manually canceled. Our platform supports the following time validity settings:

1. Good Till Cancelled (GTC):

   • The order remains active indefinitely until it is manually canceled by the trader.

   • Ideal for traders who want their order to persist regardless of time constraints.

2. Good Till Date/Time (GTD):

   • The order remains active until a specified date and time.

   • Useful for traders who want their order to expire automatically after a specific period, aligning with their strategy.

These time validity options give traders complete control over their pending orders, ensuring flexibility and precision in execution.