There are several different order types available to Mango Markets traders; this section will cover their behaviours.
Market: Buy/Sell an asset for current price offered on the order book. Great for aping.
Limit: Buy/Sell an asset for a specific price or better.
This will place a buy bid on the order book for 200 SOL at $140. If the SOL price never drops to 140 or below, the order will not get executed.
Reduce Only: This ensures an order will only be executed to reduce or close a position and will never increase or open a new position. Check the Reduce Only box above the buy/sell button to apply. Immediate or cancel (IOC): If an order is placed and not filled immediately, it's cancelled. POST: These limit orders are added to the order-book and earn maker fees if filled. POST orders will always be the "maker."
Stop Loss: This order sets a trigger for a market order if the price goes below a given threshold. The threshold price is set in the "Trigger Price" box. You may, for example, place a stop loss order to exit a position if the price falls 25% below entry to reduce downside exposure.
In the order above, if the price of SOL fell to $120, then 400 SOL would be market sold.
Stop Limit: This order works similarly to a stop loss, although a limit order is triggered at a given price target rather than a market order. The price on the limit order is set in the "Price" field.
Take Profit: A take profit order will set a trigger for a market order if price goes above a given threshold. This can close a portion or all of a position for a profit.
Here, a successful long 100 SOL position would be market closed if the price of SOL reached 220 or higher.
Take Profit Limit: This order works similarly to take profit, although a limit order is placed with a provided price rather than a market order.
Above, a limit sell order of 100 SOL at price 230 would be placed if the SOL price reached 220 or higher.