> For the complete documentation index, see [llms.txt](https://docs.chainbitx.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.chainbitx.com/help-center/eng/readme/trading-guide/basics-of-contract-trading/introduction-to-order-types.md).

# Introduction to Order Types

**Limit Order**

Users can set their target buy or sell price and wait for the market to execute the trade. Limit orders are suitable for traders who want to buy or sell assets at a specific price. Users input their desired price and quantity when placing the order, and the system will automatically match and execute when the market reaches that price. For example, if BTC is currently priced at 60,000 USDT and the user wants to buy at a lower price of 59,000 USDT, they can place a limit buy order and wait for the market to pull back for automatic execution. Limit orders are good for setting entry points, take profit points, and are often used in grid trading strategies. Since limit orders do not execute immediately at unfavorable prices, there is no slippage risk, but there is a possibility that the order may not be executed (especially in volatile markets).

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**Market Order**

The system immediately executes the order at the best current market price. Market orders are suitable for users who want to quickly open or close positions, especially when the market is highly volatile and immediate entry or stop loss is needed. For example, when the market suddenly surges or falls, users who want to quickly enter a position to follow the trend can use market orders. The system will automatically match the best buy/sell prices from the current order book depth and execute the full order immediately. Market orders execute quickly, but slippage may occur if the market is volatile or liquidity is insufficient (the actual executed price may differ from the expected price). ChainBitX displays an estimated average execution price and total cost on the order confirmation page to help users decide whether to proceed.

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**Conditional Order**

Automatically submits a limit or market order once preset price conditions are met. Also called “planned orders,” conditional orders are suitable for setting take profit, stop loss, or breakout strategies. Users must set a trigger price and the target order (limit or market). When the market reaches the trigger price, the system immediately executes the order. For example, if the current ETH price is 3,000 USDT, the user can set a conditional order to stop loss at market price if ETH falls below 2,900 USDT. ChainBitX supports managing conditional orders in both directions, allowing multiple triggers to be set and managed on one page. The system uses a stable server monitoring mechanism to ensure precise trigger execution.