Trading

Order types

Six order types for entries, exits, and risk management, and how each one fills.

Market, limit, and stop

Element supports six order types: a market, limit, and stop form for both increasing (opening or adding) and decreasing (reducing or closing) a position. Conditional orders are executed by a keeper when their trigger is met.

Order types
Order	Direction	Fills when
Market increase	Open or add	Immediately, at the current mark
Limit increase	Open or add	The mark reaches your trigger from the favorable side
Stop increase	Open or add	The mark reaches your trigger from the adverse side
Market decrease	Reduce or close	Immediately, at the current mark
Limit decrease (take-profit)	Reduce or close	The mark reaches your profit trigger
Stop-loss decrease	Reduce or close	The mark reaches your stop trigger

How triggers fill

Increase orders escrow their collateral when you place them, so the funds are reserved for the fill. Decrease orders are reduce-only: they can never flip your position or increase exposure.

Market orders fill right away at the current mark, subject to your slippage limit
Limit and stop orders are held by a keeper and submitted when the mark crosses the trigger
Stops fill at the first price after the trigger, not necessarily the trigger itself