Order Types Basics
6 min read | Last reviewed: 9/24/2025 by GCP
Market vs Limit
An order type defines how your trade interacts with the order book.
Market
Executes immediately against the best available prices. Prioritizes speed over price certainty.
Limit
Posts (or matches) at a specific price. Prioritizes price control over immediacy.
Stop (Preview)
Turns into a market (or limit) order once a trigger price is touched. Useful for risk management.
OCO (Preview)
"One Cancels the Other" — pair a take-profit with a stop-loss. When one fills, the other auto-cancels.
Skeleton lesson — extended scenarios coming in Phase 2.
Test Your Knowledge
What does a market order prioritize?