# Order Types ### Order Types * **Limit**: allows a trader to specify a maximum price they are willing to pay when buying, or a minimum price they are willing to accept when selling. The order is only executed if the market reaches the specified price (or better). * **Market**: an instruction to buy or sell an asset immediately at the best available market price. Market orders prioritize speed and execution over price control. * **Stop-Limit**: combines features of a stop order and a limit order. It becomes a limit order when the market price reaches a specified "stop" price. The trade is then executed only if the market price meets the conditions of the limit price. * **Stop-Market**: converts into a market order once the market price reaches the specified "stop" price. Execution occurs immediately at the best available price after activation, ensuring the trade happens, but without price guarantees. ### Order Options * **Leverage**: allows a trader to amplify their position size by borrowing funds. It increases potential profits but also magnifies potential losses. Helix offers up to 20x leverage on trades, depending on the market. * **Slippage**: refers to the difference between the expected price of a trade and the actual price at which it is executed, often caused by low liquidity or high market volatility. Custom slippage settings can be set for Market and Stop-Market orders on Helix. * **Post Only**: ensures that an order is added to the order book as a maker order and does not execute immediately as a taker order. This guarantees the trader earns maker fees (or rebates) rather than paying taker fees. Post Only is available for Limit orders on Helix. * **Reduce Only**: ensures that the order only decreases or closes an existing position and does not open a new one. This is commonly used to manage risk. Reduce Only is available across all order types on Helix. * **Bypass Price Warning**: allows traders to override system warnings about placing orders at potentially unfavorable prices, which might result in significant slippage or execution far from the expected price. This option is available for Limit and Stop-Limit orders on Helix. * **Take Profit / Stop Loss (TP/SL)**: conditional orders designed to automatically close a position at a specified profit or loss level. TP sets a target price to lock in profits, while SL sets a price to limit loses. TP/SL is support for Market orders on Helix. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.helixapp.com/trading/order-types.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.