Order Types

Understand the different order types available on Lit and how to place each one

• Market: An order that executes immediately at the current market price

• Limit: An order that executes at the selected limit price or better

• Stop Market: A market order that is activated when the price reaches the selected stop price. Stop orders are generally used to help limit losses and lock in profits

• Stop Limit: A limit order that is activated when the price reaches the selected stop price

• Scale: Multiple limit orders in a set price range

• TWAP: A large order divided into smaller suborders and executed in 30 second intervals. TWAP suborders have a maximum slippage of 3%

• Trailing Stop Loss: An augmented version of the normal Stop Loss that automatically follows market price as it goes in your favor while maintaining a steady distance, but does not move if the price starts going against you.