# Order Types

MoonTrader offers five order types for opening positions. Each type is used in different situations.

### Market

Order executes immediately at the best available market price.

**Example:**

BTC price = $50,000. You place a Market buy — executes instantly at \~$50,000.

**Features:**

* Guaranteed execution
* Slippage possible
* You are taker (higher fee)

**When to use:** need to enter the market right now.

### Limit

Order executes only at the specified price or better. Enters the order book and waits in queue.

**Example:**

BTC price = $50,000. You place a Limit buy at $49,500. When the price drops to $49,500, the order executes.

**Features:**

* Execution price control
* No execution guarantee
* You are maker (lower fee)
* No slippage

**When to use:** want to buy cheaper or sell higher than current price.

### Post Only

Guarantees order placement as maker. If it can execute immediately — automatically cancelled.

**Example:**

Ask = $50,000. You place Post Only buy at $50,000 — exchange will cancel the order (would execute as taker). If at $49,999 — will accept.

**Features:**

* Always maker — minimum fee
* May be cancelled
* Guaranteed entry into order book

**When to use:** important to pay minimum fee, for market making.

### Stop Market

Activates when stop price is reached and executes as a market order.

**Stop-loss example:**

Long on BTC at $50,000. You place Stop Market sell at $48,000. Price drops to $48,000 — order activates and closes position at market price.

**Breakout example:**

Price = $50,000. Stop Market buy at $51,000. Price rises to $51,000 — order activates and buys at market.

**Features:**

* Guaranteed activation
* Slippage possible on execution
* You are taker

**When to use:** stop-losses, take-profits, breakout entries.

### Stop Limit

Activates when stop price is reached and places as a limit order.

**How it works:**

You set two prices: stop price (trigger) and limit price (execution price).

**Example:**

BTC price = $50,000. Stop Limit buy: stop $51,000, limit $51,100.

1. Price rises to $51,000 — activates
2. Limit order is created at $51,100
3. Will execute only if price is not higher than $51,100
4. If price immediately jumps to $51,500 — will not execute

**Features:**

* Slippage protection
* Non-execution risk
* Price control

**When to use:** slippage protection on stops, but ready for non-execution risk.

### Comparison

| Type            | Execution | Slippage | Guarantee        | Role        |
| --------------- | --------- | -------- | ---------------- | ----------- |
| **Market**      | Immediate | Yes      | Yes              | Taker       |
| **Limit**       | At price  | No       | No               | Maker       |
| **Post Only**   | At price  | No       | No               | Maker       |
| **Stop Market** | At stop   | Yes      | Yes (activation) | Taker       |
| **Stop Limit**  | At stop   | No       | No               | Maker/Taker |

### ⚠️ Important

**Limit orders may not execute** — if price doesn't reach the level.

**Stop Market can slip** — especially on news and gaps.

**Stop Limit may not trigger** — stop activates, but limit doesn't execute. Position remains open.

**Choice for stops:**

Stop Market — guaranteed closure, but slippage.

Stop Limit — price control, but non-execution risk.


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