# Exploring Order Types

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**Know What You’re Clicking**

If you’ve ever traded and wondered what the heck a “limit,” “market,” or “stop-limit” order even is — while saying *“I’m just here to smash buttons”* — well mate, we’ve all been there. But if you want to succeed, it’s time to level up.

Order types are the commands you give an exchange to buy or sell. Each one tells the platform *how* to execute your trade, not just *what* you want to buy.

Let’s break down the most useful order types, how they work, and why choosing the right one can make a big difference in your trading.

### **Market Orders**

A **market order** is the fastest way to execute a trade. You’re telling the exchange: *“Just get this done.”*

You buy or sell immediately at the best available price. The exchange matches your order with the other side of the book, and boom, you’re in (or out) of the position.

**When’s the best time to use it?**

* You need to enter/exit quickly
* You’re okay with slippage
* You’re trading in a highly liquid market

**Watch out**: If the market is moving fast or liquidity is low, your final price might differ from what you expected… That’s called **slippage**.

### **Limit Orders**

A **limit order** lets you set the exact price you’re willing to pay. It only executes if the market hits your target.

It’s not instant, your order sits in the book waiting to be filled. You’re basically saying: *“Only buy/sell if the price hits $X.”*

**When to use it:**

* You want precision on entry/exit
* You’re avoiding slippage
* You don’t mind waiting

Limit orders often make you a **maker**, which usually means **lower fees**.

### **Stop-Limit Orders**

A **stop-limit order** is a combo move. It only activates after a certain price (the stop) is hit, then places a limit order at your chosen price.

Example:

BTC is trading at $30,000. You set:

* Stop: $29,500
* Limit: $29,400

Once BTC drops to $29,500, your limit order to sell at $29,400 is placed. If the price drops past $29,400 too quickly, your order may not fill.

**When to use it:**

* To cut losses
* To automate exits
* To avoid panic selling into slippage

### **OCO (One-Cancels-the-Other)**

OCO orders let you place **two conditional orders** at once, one for profit, one for protection. When one triggers, the other is automatically canceled.

Example:

BTC is at $30,000.

You set a take-profit at $32,000 and a stop-loss at $29,000.

If price hits either one, the other disappears.

**When to use it:**

* To automate both upside and downside plans
* To avoid being glued to your screen

### **Time in Force (TIF)**

TIF defines **how long your order stays active**. Here are the basics:

* **GTC (Good ‘Til Canceled):** The default. Stays open until filled or canceled.
* **IOC (Immediate or Cancel):** Fill what you can now — cancel the rest.
* **FOK (Fill or Kill):** All or nothing. If the full amount can’t be filled instantly, cancel it.

These are especially useful when managing large orders or hunting precision entries.

### **Final Thoughts**

Order types are your toolkit as a trader. The better you understand them, the more control you’ll have — whether you’re chasing momentum on a meme coin or grinding out entries in sideways chop.

***

Kuma is a double-down bet on what works for decentralized trading: speed, security, and transparency. From the team behind the No.1 DEX from 2017-2019, and powered by Berachain’s Proof-of-Liquidity, Kuma delivers one-click onboarding, seamless mobile trading via Kuma Connect, and gas-free settlement. Traders of all sizes have an edge thanks to millisecond execution and complete control of their funds.

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