Order Types
Order Types on Aurora
Aurora supports a wide variety of order types and options, allowing traders to customize execution strategies to fit their trading style.
Core Order Types
Market Order Executes immediately at the current market price.
Limit Order Executes only at the specified limit price or better.
Stop Market Order Becomes a market order once the selected stop price is reached. Commonly used to limit losses or lock in profits.
Stop Limit Order Becomes a limit order once the stop price is reached.
Scale Order Places multiple limit orders within a defined price range.
Order Options
Reduce Only Ensures the order only decreases an existing position, rather than flipping into a new opposite position.
Good-Til-Cancelled (GTC) Order remains on the book until fully filled or manually canceled.
Post Only (Also known as ALO) Adds the order to the book without executing immediately. Guarantees the order provides liquidity instead of taking it.
Immediate or Cancel (IOC) Executes immediately for available size, and cancels any unfilled portion.
Take Profit (TP) Triggers once the specified TP price is reached. Used to capture gains.
Stop Loss (SL) Triggers once the specified SL price is reached. Used to limit downside risk.
TP & SL Notes
TP and SL orders are typically set to help manage targets and risk.
By default, TP/SL are market orders, but you can configure them with a limit price and specify the portion of your position to close.
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