> For the complete documentation index, see [llms.txt](https://docs.paragon.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.paragon.trade/trading/order-types.md).

# Order Types

Paragon markets support all standard Hyperliquid order types.

[**Hyperliquid Order Types Documentation**](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/order-types)

## Quick Reference

| Order Type  | Execution                    | Price Guarantee            | Use Case                                        |
| ----------- | ---------------------------- | -------------------------- | ----------------------------------------------- |
| Market      | Immediate                    | No                         | Fast entry/exit when speed matters most         |
| Limit       | At specified price or better | Yes                        | Precise entries, providing liquidity            |
| Stop Market | When trigger price reached   | No                         | Guaranteed exit on breakout/breakdown           |
| Stop Limit  | When trigger price reached   | Yes (with risk of no fill) | Controlled exit with price protection           |
| Take Profit | When target price reached    | Varies                     | Lock in gains automatically                     |
| Stop Loss   | When stop price reached      | Varies                     | Cap downside automatically                      |
| Reduce-Only | Depends on order type        | Depends on order type      | Exit-only orders that prevent position increase |

***

## Market Orders

Execute immediately at the best available price.

**Use case:** Exiting a position quickly or entering when you expect rapid price movement.

## Limit Orders

Execute at your specified price or better. The order rests in the orderbook until filled or cancelled.

**Use case:** Entering at a specific level, scaling into positions, or providing liquidity to earn maker rebates.

### Time-in-Force Options

| Option                    | Behavior                                                      |
| ------------------------- | ------------------------------------------------------------- |
| GTC (Good-Til-Cancelled)  | Remains active until filled or manually cancelled             |
| IOC (Immediate-or-Cancel) | Fills immediately; cancels unfilled portion                   |
| ALO (Add Liquidity Only)  | Posts to orderbook only; cancels if it would cross the spread |

## Stop Orders

Trigger when market price reaches your stop price.

### Stop Market

Becomes a market order when triggered. Guarantees execution, not price.

**Use case:** Hard stop-loss where getting out matters more than the exit price.

### Stop Limit

Becomes a limit order when triggered. Requires both a stop price (trigger) and limit price (execution boundary).

**Use case:** Stop-loss with slippage protection, though the order may not fill in fast markets.

## Take Profit / Stop Loss

Attached to existing positions for automated exit management.

* **Take Profit:** Closes position when price reaches your target
* **Stop Loss:** Closes position to limit downside

**Use case:** Set-and-forget position management. Define your risk and reward upfront.

## Reduce-Only Orders

Can only decrease your position size, never increase it.

**Use case:** Prevent take-profit or stop-loss orders from accidentally opening a position in the opposite direction.

***

## Order Placement

All order types are available through:

* Hyperliquid web interface
* Hyperliquid API
* Third-party interfaces supporting HIP-3 markets

For programmatic order management, see [API Overview](/developers/api.md).


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