Order Types
Which order types you can use depends on the venue. This page explains what each one does and where it's available.
1. Market order
A market order executes immediately at the best available price on the order book — speed over price.
- Used when you want to enter or exit a position right now and accept whatever fill price the book offers.
- Fill behavior — fills as much as the book allows, walking the book if needed. On Hyperliquid, market orders are immediate-or-cancel: any part that can't fill right away is cancelled.
- Risk — in thin or fast markets you may pay meaningful slippage vs the last-traded price.
2. Limit order
A limit order executes only at your specified price or better — price over speed.
- Used when you have a target entry / exit and are willing to wait (or miss the fill).
- Fill behavior — may fill partially, fully, or not at all, depending on whether the market reaches your price.
- Time in force — how long the order stays alive:
- Stocks: GTC (good till cancelled), DAY, IOC (immediate or cancel) or FOK (fill or kill), chosen in the ticket.
- Hyperliquid: limit orders from the order panel are good-till-cancelled.
- Polymarket: you choose an expiry — never, end of day, after 5 minutes / 1 / 12 / 24 hours, or a custom time.
On the broker rail, limit orders sit at your broker until filled or cancelled, subject to that broker's session and routing rules.
3. Stop order
A stop order waits for the market to cross a price threshold, then fires as a market order.
On the broker rail, Stop orders are available in the stock order ticket; which ones your broker accepts depends on the broker. The Hyperliquid and Polymarket order panels have no stop order type.
4. Reduce Only
Reduce Only (Hyperliquid) — the order can only reduce an existing position, never open, grow or flip it. If your position is smaller than the order size at fill time, the venue caps the fill to the remaining position. Use it to place exits safely without accidentally opening an opposite-side position.
It is a checkbox in the Hyperliquid order panel on the web and in the app. Close and Close All on a position also send reduce-only market orders.
5. Take-profit and stop-loss
A take-profit closes a position once price moves in your favour past a level; a stop-loss closes it once price moves against you past a level.
The Hyperliquid order panel — on the web and in the app — has no take-profit or stop-loss fields. Instead, ask Alphio AI in chat: it can prepare an order plan with an entry plus a take-profit and/or stop-loss, and shows it for you to review and confirm before anything is placed.
Copied crypto strategies (CoinSwing, Day Trade Stock Tokens) place a protective stop-loss for you — see Copy Trading — signals.
6. Availability by venue
| Order type | Broker (stocks) | Hyperliquid | Polymarket |
|---|---|---|---|
| Market | Yes | Yes (immediate-or-cancel) | Yes — matches existing orders |
| Limit | Yes, with GTC / DAY / IOC / FOK | Yes, good-till-cancelled | Yes, with an expiry |
| Stop | Yes, broker-dependent | Not in the order panel | No |
| Take-profit / stop-loss | No | Through Alphio AI in chat | No |
| Reduce Only | Not applicable | Yes | Not applicable |
| Post Only | No | No | No |
KuCoin, Kraken and OKX (earlier connections only) support market and limit orders. Tokens trades are swaps at the quoted price, protected by a max slippage you can set in the trade panel.
This page is available as plain Markdown at https://alphio.ai/docs/reference/order-types.md. An index of every page, with a one-line summary each, is at https://alphio.ai/docs/llms.txt.