Order Types on Tenbagger: Market, Limit, Stop, TP/SL
An order is how your intent becomes action in the market. Choosing the wrong type costs money through slippage, missed fills, or unintended exits. This guide covers every order type Tenbagger supports, when to use each, and the subtle tradeoffs that separate well-placed orders from sloppy ones.
Market orders: speed over price
A market order executes immediately against the best available prices on the order book. If you place a market buy for 1 BTC and the top ask levels hold 0.3, 0.4, and 0.5 BTC at prices of $70,000, $70,010, and $70,025, your order fills across all three, with an average execution price of about $70,013.
Market orders are ideal when immediate execution matters more than an exact price — for example, exiting a position during a sudden move or capturing a breakout the moment it occurs. They always fill (as long as liquidity exists) but expose you to slippage: the difference between the price you expected and what you actually paid.
On deep markets like BTC or ETH perpetuals, slippage is minimal for retail-sized orders. On thinner markets or during volatile moments, a market order for a larger size can sweep multiple price levels and execute materially worse than the top-of-book. Always check the order book depth before sending a sizable market order.
Limit orders: price over speed
A limit order specifies the worst price you're willing to accept. A buy limit at $69,500 only fills when someone sells at or below $69,500. Until then, it rests in the order book. This gives you price control but no guarantee of execution — the price might never reach your limit, and you miss the move.
Limit orders are the default tool for measured entries and exits. A common pattern: you believe BTC is oversold and want to buy on a dip. Rather than chasing at market, you place a limit at a technical support level. If the market reaches it, you fill at your price. If it doesn't, you haven't committed capital to a level you didn't want.
Limit orders also act as maker orders when they rest in the book without immediately crossing. Makers earn a small rebate on most exchanges — including Hyperliquid's design — because they add liquidity. Over a large volume, the difference between paying taker fees and earning maker rebates becomes significant for active traders.
Stop-market and stop-limit orders
A stop order triggers when the market reaches a specified price. A stop-market then submits a market order; a stop-limit submits a limit order at a specified price. Stops are commonly used as stop-losses — you set them below (for longs) or above (for shorts) to exit if your thesis breaks.
Stop-market orders guarantee execution but not price. If the market gaps through your stop price during a volatile candle, you might fill materially worse. This 'stop-loss slippage' is a well-known frustration, especially on smaller markets or during liquidation cascades.
Stop-limit orders guarantee price but not execution. If the market gaps past your limit, the order rests unfilled — meaning you didn't exit. This can leave you in a worse position than stop-market would have. The right choice depends on whether you value limiting loss or guaranteeing exit. For large liquid markets, stop-market is usually preferred. For thin markets where slippage can be catastrophic, stop-limit (with an acceptable gap) is worth considering.
Take-profit and stop-loss (TP/SL)
TP and SL are conditional orders attached to a specific position. On Tenbagger, you can set both when opening a trade or attach them afterward. They automate the exit plan: TP closes the position once a profit target is hit; SL closes it at a maximum acceptable loss.
Using TP/SL is one of the highest-leverage habits a trader can develop. Without automated exits, you risk two common failure modes: holding losers too long in the hope they recover (violating your risk plan), and exiting winners too early out of anxiety (cutting the edge that makes trading profitable). TP/SL enforces the plan you wrote when you were thinking clearly, against the you who will be thinking emotionally during the trade.
A practical pattern: set SL at the level where your thesis is invalidated. Set TP at a level with a favorable risk-reward ratio (2:1 or better is a common starting point). This means your winners pay more than your losers cost. Even a coin-flip win rate produces profit with 2:1 reward-risk — which is why stop-loss discipline is the single most important habit for long-term survival.
Post-only, reduce-only, and advanced flags
Post-only orders are limit orders that cancel if they would immediately cross the book (i.e., act as a taker). This guarantees you remain a maker and earn the rebate. Active market makers and fee-sensitive traders use post-only almost exclusively.
Reduce-only orders can only decrease an existing position, never flip it to the opposite side. This prevents accidental reversals — for example, if you have a long open and want to TP at a specific level, setting the TP as reduce-only ensures that if the order somehow fires twice, it cannot accidentally open a short.
Other flags include time-in-force options like Immediate-or-Cancel (IOC, fills what it can immediately and cancels the rest) and Fill-or-Kill (FOK, either fills completely or cancels). These matter primarily for programmatic trading. For manual discretionary trading, GTC (Good-Till-Cancelled) is the default and usually the right choice.