> For the complete documentation index, see [llms.txt](https://bitnex.gitbook.io/bitnex-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bitnex.gitbook.io/bitnex-docs/trading/order-types.md).

# Order Types

Bitnex Pro supports a full range of order types, from simple market orders to advanced execution algorithms. Every order is matched on the underlying on-chain exchange protocol's central limit order book, and the estimated cost — including fees — is always shown in Order Details before you confirm.

| Order type      | What it does                                                               | When to use it                                                   |
| --------------- | -------------------------------------------------------------------------- | ---------------------------------------------------------------- |
| **Market**      | Executes immediately at the best available price                           | You want in or out *now* and accept the current price            |
| **Limit**       | Executes only at your specified price or better                            | You want price control and are willing to wait for a fill        |
| **Stop Market** | Triggers a market order when price reaches your stop price                 | Cutting losses or entering on a breakout, prioritising execution |
| **Stop Limit**  | Triggers a limit order when price reaches your stop price                  | Same as Stop Market, but with price control on the fill          |
| **Take Profit** | Triggers an order to close (or open) when price reaches your profit target | Locking in gains automatically without watching the chart        |
| **Scale**       | Splits one order into multiple limit orders across a price range           | Building or exiting a position gradually across a zone           |
| **TWAP**        | Splits one order into slices executed over time                            | Large orders you want to execute with reduced market impact      |

{% hint style="info" %}
**Lite mode** offers Market and Limit orders, plus attachable Take Profit / Stop Loss. Switch to **Pro** anytime for the full set — see [The Trading Interface](/bitnex-docs/trading/interface.md).
{% endhint %}

### Market

A market order executes immediately against the best prices resting on the order book. You specify the size; the protocol fills you at the best available levels until the order is complete.

* **Pros:** guaranteed execution (as long as there is liquidity), instant.
* **Cons:** the fill price can differ from the last price you saw — especially for larger sizes in thinner books (slippage).

**Example:** BTC is trading around $65,000 and you want long exposure immediately. You place a market buy for 0.1 BTC and are filled at the best asks on the book. Your average fill becomes your [entry price](/bitnex-docs/trading/entry-price-pnl.md).

### Limit

A limit order rests on the order book at your chosen price and only fills at that price or better. Buy limits fill at your price or lower; sell limits fill at your price or higher.

**Time-in-force (TIF)** controls how long the order stays active:

| TIF                           | Behaviour                                                                                   |
| ----------------------------- | ------------------------------------------------------------------------------------------- |
| **GTC** (Good-Til-Cancelled)  | Rests on the book until fully filled or you cancel it                                       |
| **IOC** (Immediate-Or-Cancel) | Fills whatever is possible instantly; the unfilled remainder is cancelled                   |
| **Post-only**                 | Only enters the book as a maker order; cancelled if it would execute immediately as a taker |

{% hint style="info" %}
Post-only is useful if you specifically want maker execution. Maker and taker orders are charged at different rates — see [Fees](/bitnex-docs/platform/fees.md).
{% endhint %}

**Example:** ETH trades at $3,450 and you want to buy a dip. You place a GTC limit buy at $3,380. The order rests on the book and fills only if the price trades down to your level.

### Stop Market

A stop market order stays inactive until the market reaches your **trigger price**, then executes as a market order.

* As a **stop loss:** you're long BTC from $65,000 and set a stop market sell triggered at $63,500. If price falls to $63,500, your position is closed at market — no manual action needed.
* As a **breakout entry:** you set a stop market buy above resistance to enter only if the market breaks out.

Stop markets prioritise *getting filled* over the exact fill price. In fast markets, the fill can be some distance from the trigger.

### Stop Limit

A stop limit works like a stop market, but places a **limit order** at your chosen limit price when triggered, instead of a market order.

**Example:** You're long and set a stop with trigger $63,500 and limit price $63,300. If price hits $63,500, a sell limit at $63,300 is placed. You won't be filled below $63,300 — but if the market gaps through your limit, the order may not fill at all, leaving the position open.

{% hint style="warning" %}
A stop limit protects you from a bad fill price but does **not** guarantee execution. For a stop loss you rely on to prevent [liquidation](/bitnex-docs/trading/liquidation.md), a stop market is generally the safer choice.
{% endhint %}

### Take Profit

A take profit order triggers when the market reaches your profit target and closes some or all of your position. On Bitnex you can:

* Attach a TP to a new order at placement time.
* Add or edit a TP on an existing position — full or partial size, defined by price or by gain %.
* Drag the TP line directly on the Pro chart.

**Example:** You're long SOL from $140 and set a take profit at $155 for 50% of the position. If price reaches $155, half the position closes automatically and the realized PnL is booked.

For the full workflow, see [Take Profit & Stop Loss](/bitnex-docs/trading/tp-sl.md).

### Scale

A scale order splits a single order into multiple limit orders distributed across a price range you define — a start price, an end price, and the number of sub-orders. You can also apply a **size skew** to weight more size toward one end of the range. Each sub-order must meet the protocol's minimum order size.

**Example:** Instead of one limit buy at $3,380, you scale-buy ETH from $3,400 down to $3,300 across 10 orders, skewed so larger sizes sit at the lower prices. You accumulate progressively into weakness with a better blended entry.

Full details and configuration options: [Scale Orders](/bitnex-docs/trading/scale-orders.md).

### TWAP

A TWAP (time-weighted average price) order splits your total size into slices executed over a time window, natively by the underlying protocol. It's designed for larger orders where placing everything at once would move the market against you.

**Example:** You want to buy a position that is large relative to the book's current depth. Rather than sweeping the asks in one market order, you run a TWAP over 30 minutes and the order executes in evenly spaced slices, targeting the average price over that window.

Running TWAPs appear in the **TWAP** tab of the Pro terminal, where you can monitor progress or terminate them early. Full details: [TWAP Orders](/bitnex-docs/trading/twap.md).

***

{% hint style="success" %}
Whichever order type you use, the Order Details panel shows the estimated cost, fees and (for leveraged positions) the estimated liquidation price **before** you confirm. Review it every time — see [Fees](/bitnex-docs/platform/fees.md) and [Liquidation](/bitnex-docs/trading/liquidation.md).
{% endhint %}


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