Market vs Limit Orders on Freya (Entry & Exit Order Types)

#Market vs Limit Orders on Freya (Entry & Exit Order Types)

Every bot makes one basic execution choice on each side of a trade: act now at whatever the price is (a market order), or wait for a specific price (a limit order). Freya calls these your Entry Order Type and Exit Order Type. This guide explains the difference and how to set it.

For the entry grid itself see Entry Orders & the Grid; for the full exit toolkit see Exit Strategies.

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#What a Market Order Is

A market order executes right away at the best price currently available. Its advantage is certainty of execution — it fills. Its cost is possible slippage: in fast or thin markets, the price you get can differ slightly from the price you saw. Market orders are the simplest choice when you want to be in or out without waiting.

#What a Limit Order Is

A limit order sits at a price you set and only fills if the market reaches it. Its advantage is certainty of price — you never pay worse than your limit. Its cost is that it may not fill at all if price never gets there. Limit orders suit patient setups where a better entry or exit matters more than guaranteed execution.

#How You Choose It on Freya: the Percentage

Freya doesn't use a market/limit toggle — it uses a percentage distance:

• 0% = Market. The order executes immediately.
• Any percentage above 0 = Limit, placed that far from the current price.

This works the same for the Entry Order Type and the Exit Order Type. Direction matters for where the limit sits: for a long, a limit entry rests below the market (a better buy); for a short, above it (a better sell).

#Where the Order Type Applies

• Entry order — market (enter now) or limit (wait for your price).
• Averaging (grid) orders — each can be market or limit by the same logic.
• Take-profit exit — your Exit Order Type decides whether the take-profit is a market close or a limit order resting at your target.

#The Always-Market Exceptions

Two things are always market orders, no matter your Exit Order Type:

• Stop-loss. A stop must fill to protect you, so it always executes as a market order — a limit order at the stop price might never fill in a fast drop. Your Exit Order Type setting applies to the take-profit only.
• Manual close. When you close a deal yourself, Freya uses a market order so it closes immediately.

#If a Limit Order Doesn't Fill

A limit order only executes if the market reaches your price — so a limit set too far away can sit unfilled. While it waits, your bot simply hasn't entered (or exited) yet. If the market has moved on and you no longer want to wait, you can close or cancel the deal yourself and let the bot move on. The practical takeaway: the further your limit sits from the current price, the better your fill if it triggers — but the higher the chance it never fills at all. Choose the distance with that trade-off in mind.

#Choosing Wisely

• Prefer market when execution certainty matters most — volatile moves you don't want to miss, or thin pairs where a limit might sit unfilled. Accept some slippage.
• Prefer limit when price matters more than speed — you're patient, you want a better entry/exit, and you can accept that it might not fill.

#Frequently Asked Questions

#What's the difference between a market and a limit order on Freya?

A market order fills immediately at the current price (certain execution, possible slippage). A limit order waits at a price you set and only fills if the market reaches it (certain price, but it might not fill). You choose per side with the Entry and Exit Order Type settings.

#How do I set market vs limit — is there a toggle?

It's a percentage, not a toggle. Set 0% for a market order; set any value above 0 for a limit order placed that far from the current price. The same applies to both your entry and your exit.

#Does the stop-loss ever use a limit order?

No. The stop-loss is always a market order so it fills when triggered — a limit at the stop price might never execute in a fast move. Your Exit Order Type setting governs the take-profit only.

#What happens if my limit order never fills?

It stays open, waiting for the market to reach your price — until then the bot hasn't entered (or exited) on that order. If price has moved on and you no longer want to wait, you can close or cancel the deal yourself. That's why the limit distance is a trade-off: a wider distance gives a better fill if it triggers, but a higher chance it never fills.

#Does the percentage next to a limit order mean a partial fill?

No — it's the price distance from the current market, not how much of the order fills. The capital each grid order uses is set separately as Volume %.

#Does a manual close respect my Exit Order Type?

No. A manual close always uses a market order so your position closes right away. The Exit Order Type (market or limit) applies to the bot's automatic take-profit, not to a manual close.

#Should I use market or limit for my first bot?

Market is the simpler, more predictable choice when you're starting out — your orders fill and you can watch how the bot behaves. Move to limit orders once you're comfortable and want to optimize entry/exit prices, keeping in mind they may not always fill.