> ## Documentation Index
> Fetch the complete documentation index at: https://docs.liquid.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Order types

> Market, limit, trigger, and TWAP orders on Liquid, plus time-in-force and reduce-only options.

## Basic and Advanced

On iOS, the order form opens in **Basic** mode: pick **Buy/Long** or **Sell/Short**, set the **Amount** and **Leverage**, and place a market order. Switch to **Advanced** for the order types below.

On web, the order types are tabs at the top of the order panel: **Market**, **Limit**, and **Advanced**.

<Frame caption="Market, limit and trigger orders">
  <video src="https://mintcdn.com/liquidmax/ZpdO2omYJ64poyVN/videos/trading/order-types.mp4?fit=max&auto=format&n=ZpdO2omYJ64poyVN&q=85&s=78db6f4f7799e70dece65f2af3e96532" autoPlay loop muted playsInline aria-label="Three rows, one per order type. A market order fills immediately at the best price. A limit buy sits below the price and fills when price dips to it. A trigger order waits at a stop line below the price, and when price crosses it a market order fires." data-path="videos/trading/order-types.mp4" />
</Frame>

## Market

Fills right away at the best available price. Use it when getting in or out matters more than the exact price.

## Limit

Fills only at your price or better. Choose how long it stays open:

* **GTC (Good 'til canceled):** rests on the book until it fills or you cancel it.
* **ALO (Add liquidity only):** only rests on the book. If it would fill right away, it's canceled. Useful for paying maker fees.
* **IOC (Immediate or cancel):** fills what it can right away and cancels the rest.

<Frame caption="Choose an NVDA limit order in Advanced mode and review it before placing it">
  <video src="https://mintcdn.com/liquidmax/XfQEOO9DUSXzP7OP/videos/trading/place-limit-order.mp4?fit=max&auto=format&n=XfQEOO9DUSXzP7OP&q=85&s=8b26b0aa65d8ae348898b29b4d1b2bf2" autoPlay loop muted playsInline width="375" aria-label="Switch from Basic to Advanced, choose Limit, review a $220 price with GTC selected, and open Confirm Order" data-path="videos/trading/place-limit-order.mp4" />
</Frame>

## Trigger (stop and take)

A trigger order waits until the price reaches a level you set, then sends an order. On web, open **Advanced** → **Trigger**.

* **Stop Market / Stop Limit:** triggers when the price moves against you. Use it to cap a loss or enter on a breakout.
* **Take Market / Take Limit:** triggers when the price moves in your favor. Use it to lock in a gain.

A market version fills at the best price once triggered. A limit version places a limit order at your price.

To attach an exit to a new position instead, use [take profit and stop loss](/trading/take-profit-stop-loss).

## TWAP

Splits a large order into small pieces over time to reduce price impact. See [TWAP](/trading/twap).

## Reduce only

**Reduce Only** makes sure an order can only shrink or close a position, never open a new one or flip your side.

## Margin mode

* **Cross:** all your cross positions share your available balance as margin.
* **Isolated:** each position has its own margin, so a loss can't draw on the rest of your balance.

See [Leverage](/trading/leverage) for how margin works.

## Order minimums and limits

| Market | Minimum order |
| - | - |
| Perps and spot | \$10 |
| Prediction markets | \$10 |
| Co-Invest orders | \$15 of collateral (minimum position = \$15 × multiplier) |

* **Max multiplier:** set per market and shown on the ticket. Crypto perps go up to 40x.
* **Isolated-only markets:** some markets only allow isolated margin.
* **TWAP:** 5 minutes to 24 hours, one suborder every 30 seconds, each at least \$10. See [TWAP](/trading/twap).
* **TP/SL:** take profit must be on the profitable side of the current price, stop loss on the losing side. See [Take profit and stop loss](/trading/take-profit-stop-loss#rules).
* **Limit price guard:** limit orders priced below 5% of the mark price are rejected.
* **Max order size:** no fixed maximum beyond your available margin and the market's limits.


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