Understanding how different order types work is essential to managing your risk, optimizing entries and exits, and keeping control over your trades. EVEDEX supports multiple order types to fit a wide range of trading strategies, whether you want fast execution or precise control.
Market Order – Fast Execution at the Best Available Price
A market order executes immediately at the best price currently available in the order book. It’s the fastest way to enter or exit a trade.
If you place a market buy, the system matches your order with the lowest-priced seller. A market sell hits the highest-priced buyer. This type of order is ideal when you need speed and are okay with minor price differences.
Market orders can experience slippage, especially in low-liquidity markets. To help protect against excessive price deviation, EVEDEX includes a Slippage Limit mechanism. If the difference between your expected price and the real execution price exceeds a set threshold, the order won’t go through.
Use market orders when timing is critical — for example, entering quickly during a breakout or closing a trade fast when volatility spikes.
Limit Order – Precise Price Control
Limit orders let you set the exact price where you want your trade to execute. These orders sit in the order book and wait until the market reaches your price.
If you place a buy limit order for ETH at $2,000, it won’t execute until the price drops to $2,000 or lower. A sell limit order at $2,500 will only fill when the price rises to that level or higher.
Limit orders give you control, especially useful when the market is quiet or you’re waiting for a specific level. They don’t guarantee execution — if the price never reaches your limit, the trade won’t go through.
To prevent accidental errors like entering a price way off from the market, EVEDEX also includes Fat Finger protection, which blocks orders with unrealistic price values.
Stop-Limit Order – Controlled Entry or Exit on a Trigger
A stop-limit order combines two prices: the stop price and the limit price. Once the stop price is hit, your order turns into a limit order. It won’t appear in the order book until triggered.
This type is helpful for managing breakout entries or protecting downside. For example, you can place a stop-limit buy to enter a trade only if the price climbs above a certain resistance level — but still cap the price you’re willing to pay. Or, use it to exit a trade if the price drops, but only within your acceptable price range.
You define the trigger, the limit price, and the quantity — and the system handles the rest when conditions are met.
Take-Profit and Stop-Loss (TP/SL) – Automate Risk and Profit Management
Take-profit and stop-loss orders help you lock in gains and prevent large losses without needing to watch the chart constantly.
A take-profit order closes your position once a preset profit target is hit. A stop-loss closes it if the price drops to a predefined loss level. Both work as conditional triggers and are essential tools for managing trades in fast-moving markets.
They’re not guaranteed to execute at exact prices in highly volatile conditions, but they help bring structure to your trading and remove emotion from exit decisions.
How to Place an Order on EVEDEX
EVEDEX offers three input methods so you can control how your order is structured:
Order by Quantity – You enter the exact number of contracts or tokens you want to trade. Ideal for experienced traders who manage exposure manually.
Order by Value – You define the total dollar value you want to invest. The system calculates how much of the asset that buys, based on the current price.
Order by Margin – You enter how much collateral you want to use. The system applies your selected leverage to calculate your position size. This is useful for managing risk and avoiding overexposure.
Example: Let’s say you want to go long on BTC. You could:
Buy 0.1 BTC using Order by Quantity
Allocate $10,000 to the trade using Order by Value
Use $1,000 of your margin with 10x leverage using Order by Margin
Each method suits a different trading style and helps you structure your exposure properly.
Choosing the Right Order Type
Here’s a quick reference:
Order Type | How It Executes | Best Use Case | Things to Watch For |
Market Order | Immediately at best available price | Fast entry/exit | Slippage, no price control |
Limit Order | Only at your specified price or better | Precision entries | May not fill if price doesn’t match |
Stop-Limit Order | Triggered by market, executes as limit | Controlled exits or breakout entries | Won’t execute if limit isn’t hit |
Take-Profit / SL | Triggers when profit or loss thresholds hit | Automated trade management | May miss exact price during volatility |
Final Thoughts
Choosing the right order type isn’t just about mechanics — it’s about matching the trade to your plan. Whether you're minimizing slippage, setting trap entries, or automating exits, EVEDEX gives you the flexibility to manage your trades with control.
Launch the platform:https://evedex.com/en-US
Read the full documentation:https://docs.evedex.com