Instant execution market orders
This type of order is executed at the moment you place the trade. Orders cannot be sent while the market is closed.
Limit orders
The sale or purchase of an asset will be executed if the price you choose is reached (or improved). When you create a limit order, it may not reach the target price. If this happens, it will not be completed.
In the case of sell limit orders, bear in mind that if you set a limit price lower than the current price, the system will execute the sale at that very moment as if it were an immediate execution order since it considers the current price better than the price requested in the order. Therefore, the sell limit order will only remain pending if the set price is higher than the quoted price at that moment.
Stop Loss and Take Profit Orders
They allow you to automate the sale of your positions to manage risk or secure profits:
Stop Loss: Automatically sells if the price drops to a specific level in order to limit losses.
Take Profit: Automatically sells when your target price is reached to lock in profits.
Both are pending orders: the trigger price remains unchanged until you modify or cancel the order. You can set them by price or by percentage.
We hope you have found this information useful. If you have any questions, please write us through our chat or send us an email to support@heytrade.com. It will be our pleasure to help you! 😊