The order form on Hyperbeat Trade has three tabs: Market, Limit, and Pro. The Pro tab is a dropdown of advanced types that relabels itself to whichever one you pick. Between them they cover everything from a simple instant buy to automated execution strategies. This guide explains each type in plain language, with the situations where it shines.
Market orders: fill now, at the going price
A market order executes immediately against the best prices in the order book. You choose your size, press Place Order, and you are in.
The trade-off is price certainty. Because a market order takes whatever liquidity is available, large orders can push through several price levels. This difference between the expected price and your actual fill is called slippage. The order form shows you an estimated slippage before you submit, and a maximum slippage setting protects you from extreme fills. The default maximum is 8 percent, and you can change it by clicking the slippage row. Closing a position uses the same 8 percent cap, and a triggered take profit or stop loss that fires as a market order uses a 10 percent cap.
Use market orders when getting in or out right now matters more than the exact price.
Limit orders: name your price
A limit order rests in the order book at a price you choose and only fills at that price or better. Buying below the current price or selling above it means you might wait, and the order may never fill, but you will never pay more than the price you set.
The form includes a Mid button that fills the price field with the current midpoint between the best bid and ask, a convenient starting point to adjust from.
Limit orders come with a time-in-force setting that controls how the order behaves:
- GTC (Good Til Canceled): the order rests in the book until it fills or you cancel it. This is the default.
- IOC (Immediate or Cancel): fill whatever is possible right now and cancel the rest. Nothing rests in the book.
- ALO (Add Liquidity Only): the order only goes through if it rests in the book as a maker order. If it would execute immediately, it is rejected. Use this to guarantee you pay maker fees rather than taker fees.
Pro orders: the advanced menu
The Pro tab opens a dropdown of advanced order types. TWAP and Scale work on any market; the Stop and Take types are available on perps only. On a spot market, the Pro menu offers just TWAP and Scale.
### TWAP: spread a large order over time
A TWAP (time-weighted average price) order splits your order into small slices executed at regular intervals over a duration you choose, from 5 minutes up to 24 hours. Instead of one big order that moves the market, you get many small fills averaging out the price over the period.
There is also a Randomize switch that varies the timing of the slices to make your execution less predictable to other traders.
Use TWAP when your order is large relative to the market's liquidity, or when you want to average into a position rather than commit at a single price.
### Scale: a ladder of limit orders
A Scale order places a series of limit orders across a price range you define. You set a start price, an end price, and how many orders to split your size into, from 2 up to 100. A size skew setting lets you weight the orders, for example placing more size at better prices.
Use Scale when you want to accumulate gradually into a falling market or take profit progressively into a rising one, without placing each order by hand.
### Stop Market and Stop Limit: act when price breaks a level
A stop order sits dormant until the market reaches your trigger price, then activates:
- Stop Market fires a market order when the trigger is hit. Execution is near certain, price is not.
- Stop Limit places a limit order at your chosen price when the trigger is hit. Price is controlled, execution is not guaranteed.
Stops are most often used to cut losses automatically, but they can also open positions on a breakout, for example buying only if the price pushes above a resistance level.
### Take Market and Take Limit: lock in profits at a target
Take orders are the mirror image of stops. They trigger when the price reaches a favorable level and close or open a position to capture it. Take Market executes immediately at trigger, Take Limit places a limit order at your specified price.
Options you can attach to orders
- Reduce Only: guarantees the order can only shrink or close an existing position, never open or grow one. Essential for exits, because it prevents an oversized close from accidentally flipping you into the opposite direction. If an order without Reduce Only would flip you from long to short (or the reverse), Hyperbeat shows a flip confirmation before it goes through.
- Take Profit / Stop Loss: when opening a position, you can attach TP and SL in the same ticket. Enter a trigger price, or simply the gain or loss you want in percent or dollars, and the form computes the rest. Your exit plan goes live the moment your entry fills. These attached exits fire as market orders at their trigger; if you want a limit price on an exit, set it from the TP/SL controls on the open position instead (see the managing positions guide).
Before you press Place Order
The details rows under the form are your pre-flight checklist: Liquidation Price, Order Value, Margin Required, estimated and maximum slippage, and your fee rates. A confirmation dialog summarizes the order; once you are comfortable, you can enable Don't show this again for one-click trading.
Keep learning
- Leverage and margin explained
- Managing positions with take profit and stop loss
- Reading the order book
Nothing in this article is financial advice.
