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.
Price rises to $51,000 — activates
Limit order is created at $51,100
Will execute only if price is not higher than $51,100
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
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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