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

# Orders

#### Market Order

* **Instant Execution**: Executes immediately at current market price
* **Order Flow**:
  * User submits order request transaction
  * Keeper executes order with price impact applied
  * Position opens with network fee deducted
* **Price Impact**: Positive (better price) if balancing pool, negative (worse price) if imbalancing
* **Trading Modes**:
  * **Classic**: On-chain wallet signature per trade, uses your wallet's RPC
  * **Express**: Off-chain message signing, GMX broadcasts via Gelato, premium RPCs
  * **Express + One-Click**: Auto-signed with local sub-account key, no popups, limited by authorized action count

#### Limit Order

* **Trigger Price**: Order activates when mark price reaches specified level
* **Execution**: Subject to price impact and acceptable price tolerance
* **Features**:
  * Edit trigger price before execution
  * Set acceptable price impact threshold
  * Order appears in "Orders" tab
* **Non-Execution Scenarios**:
  * Mark price never reached the trigger level
  * Insufficient liquidity at trigger price
  * Max allowed leverage would be exceeded
  * Acceptable price not met due to price impact

#### Stop Market Order

* **Purpose**: Open position when price moves against favorable direction (breakout strategy)
* **Execution**: Market order that executes regardless of price impact
* **Key Differences from Limit**:
  * No acceptable price requirement
  * Guaranteed execution if trigger price hit and liquidity available
  * Higher slippage risk in volatile markets

#### TP/SL

* **Take Profit (TP)**:
  * Closes position automatically when profit target reached
  * Subject to acceptable price impact setting
  * Receives token based on position type (long = index token, short = stablecoin)
* **Stop Loss (SL)**:
  * Closes position automatically to limit losses
  * Executes regardless of price impact
  * Critical protection against liquidation
* **Auto-Cancel Feature**:
  * Automatically cancels TP/SL when position fully closed
  * Enabled by default, can be disabled in Settings
  * Limits: 10 orders/position (Arbitrum), 5 orders/position (Avalanche)
* **Management**: Create via "Close" button, "Set TP/SL" menu, or TP/SL tab in trade box