Types of Orders

Order Types
Definition
Execution
Execution Price
Market Order 
An order to buy or sell as quickly as possible at at the best available market price
The order will be executed immediately
Mark Price
Limit Order
An order to buy or sell with a restriction on the maximum price paid or the minimum price to be received
When the mark price reaches the order price, the order will be executed
Order Price
Take Profit Order
Type of limit order specifies the that specifies the exact price at which to close out an open position for a profit
When the Mark Price reaches the trigger price, the Take Profit order will be executed
Trigger Price
Stop Loss Order
An order to limit trader’s loss or lock in a profit on an existing position by closing out a position if the price reaches specific level
When the Mark Price reaches the trigger price, the Stop Loss Order will be executed
Trigger Price
Stop-Loss / Take-Profit Orders
You can also set stop-loss and take-profit orders by clicking on the "Close" button and selecting the "Trigger" tab.
After creating a trigger order, it will appear in your position's row as well as under the "Orders" tab, you can edit it the order and change the trigger price if needed. 
If you close a position manually, the associated trigger orders will remain open, you would need to cancel them manually if you do not want the order to be active when opening future positions.
Note that orders are not guaranteed to execute, this can occur in a few situations including but not exclusive to:
The mark price which is an aggregate of exchange prices did not reach the specified price
The specified price was reached but not long enough for it to be executed
No keeper picked up the order for execution
Additionally, trigger orders are market orders and are not guaranteed to execute at the trigger price.

Order Types	Definition	Execution	Execution Price
Market Order	An order to buy or sell as quickly as possible at at the best available market price	The order will be executed immediately	Mark Price
Limit Order	An order to buy or sell with a restriction on the maximum price paid or the minimum price to be received	When the mark price reaches the order price, the order will be executed	Order Price
Take Profit Order	Type of limit order specifies the that specifies the exact price at which to close out an open position for a profit	When the Mark Price reaches the trigger price, the Take Profit order will be executed	Trigger Price
Stop Loss Order	An order to limit trader’s loss or lock in a profit on an existing position by closing out a position if the price reaches specific level	When the Mark Price reaches the trigger price, the Stop Loss Order will be executed	Trigger Price

Last modified 6mo ago