🚥Supported order types
We support the following types of orders:
Market orders
Limit orders
Stop-Limit orders
Stop-Loss / Take-Profit types of orders (avaliable only for Binance USD(S)-M and COIN-M)
All orders are displayed on the (extreme) right side of Order Book opposite to the price levels at which they are placed. Each type of application has its own marking algorithm for separation aims:
L - limit order
TP - Take-Profit order
SL - Stop-Loss order
Slim - Stop-Limit order
SM - Stop-Market order
There is also a position marking:
S - a short position
B - a long position
Market orders
A market order is an order to immediately buy or sell at the best available price. It requires liquidity to execute. Its execution is based on limit orders already placed in Order Book.
Limit orders
A limit order is an order with a specified buy or sell price. The order is placed in Order Book and will only be executed if the market price reaches or exceeds the limit price.
In difference to the market orders, where trades are executed instantly at the current market price, limit orders allow you to control the price of selling or buying an asset.
Stop-Loss orders
An order is placed as an addition to an already open position and is used for risks minimization. This order is a market order, therefore it can be executed taking into account a slippage.
Take-Profit order
This order is also placed in addition to an already open position. Its main task is to set a specific target profit level. The Take-Profit order is a market order, therefore it can be executed taking into account a slippage.
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