There are 4 types of orders supported on the Kinesis Pro exchange:
- Market Orders
- Limit Orders
- Stop Market Orders
- Stop Limit Orders
By understanding and utilising these tools, you can take better control of your trading strategy and manage your exposure to market volatility.
Market Order
A market order is a buy or sell order that is executed immediately at the current market price available. A market order is the simplest of the order types.
Market orders are used when certainty of execution is a priority over the specific price of execution.
It is worth noting, that market orders allow very little control over the price received. The order is filled at the best price available at a certain time and is dependent on the depth at that price. This means the order may be filled at multiple different prices.
To learn more about Market orders, see the dedicated article here.
Limit Order
A limit order is an order to buy at no more than a specific price or to sell at no less than a specific price.
The purpose of a limit order is to give the user control over the price at which the trade is executed. However, this does not mean the order will be filled, as this is dependent on other traders being willing to buy or sell at this price.
To learn more about Limit orders, see the dedicated article here.
Stop Market Order
Stop market and stop limit orders are trading tools designed to help you manage risk and execute trades automatically, based on pre-set price conditions. They are widely used by traders to optimise strategies, prevent losses, or lock in gains.
A stop market order triggers a market order once the price of an asset reaches a specified level, called the stop price. When the stop price is reached, the trade is executed at the best available market price.
For more information on Stop Market orders, see the dedicated article here.
Stop Limit Order
A stop limit order triggers a limit order once the stop price is reached. The trade will only be executed at a limit price (or better), offering more control but no guarantee of execution.
For more information on Stop Limit orders, see the dedicated article here.