# Order Types

In 1001x, the following order types are available:

#### **Market Order**

A market order is a buy or sell order that is executed immediately at the best available price in the market.

#### **Limit Order**

A limit order allows you to set a specific price at which you want to buy or sell. The order will only be executed if the market price reaches your specified limit price.

**Limit buy order:** Executed when the market price reaches or falls below your specified price.

**Limit sell order:** Executed when the market price reaches or rises above your specified price.

**Note:** There is no guarantee that a limit order will be filled.

#### **Take Profit Order**

A take profit order is a type of limit order that closes an open position at a specified price to secure profits.

#### **Stop Loss Order**

A stop loss order is designed to limit potential losses by closing an open position at a specified price.

#### **Important Considerations**

**Fees:** Both an opening fee and an execution fee are charged when a position is opened. These fees are factored into the leverage amount.

**Order execution:** Trade orders may not be executed even if the target price is reached due to the following reasons:

* **Mark price discrepancy:** The mark price, which is an aggregated price from various exchanges, did not reach the target price.
* **Insufficient time at target price:** The target price was reached but did not remain at that level long enough for the order to be executed.

Order size exceeds available open interest: The total size of all open positions in that direction. Your order may not be filled if it's larger than what the market can support.