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
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