> ## Documentation Index
> Fetch the complete documentation index at: https://docs.speculate.trade/llms.txt
> Use this file to discover all available pages before exploring further.
# Order types
> Orders available in competitions
Every position in a competition or duel is opened and managed with the same small toolkit of order types. No exotic order menus — just what you need to get in, get out, and manage risk fast.
## Quick reference
| Order type | What it does |
| ----------------------- | ----------------------------------------------------------- |
| Market | Fills immediately at the current price |
| Limit | Rests at your chosen price until filled or cancelled |
| Take Profit / Stop Loss | Closes a position automatically at a target ROI % or price |
| Reduce Only | Flag that only shrinks or closes a position, never grows it |
| Partial close | Close any percentage of a position, not just all-or-nothing |
## Market
A **Market** order fills immediately at the current price. Use it when you want in — or out — right now, no waiting on a fill.
## Limit
A **Limit** order rests at the price you set until it's filled or you cancel it. Each order is placed with a long default lifetime (about a year), so in practice it sits until you fill or cancel it, rather than expiring on you mid-competition.
Reach for a Limit order when you want to enter or exit at a specific price instead of whatever the market happens to be trading at right now.
## Take Profit / Stop Loss (TP/SL)
Attach a take-profit, a stop-loss, or both when you open a position — or add and edit them later on a position you already hold.
Set each trigger one of two ways:
The trigger fires once your position's ROI hits the percentage you set.
The trigger fires once the market hits the exact price you set.
TP/SL isn't locked in at entry — edit or remove either trigger on an open position at any time.
## Reduce Only
**Reduce Only** is a flag you attach to an order, not a separate order type on its own. It guarantees the order can only reduce or close your existing position — it will never flip your position or add to it.
## Partial closes
You're never forced into an all-or-nothing exit. Close any percentage of a position — bank some profit and let the rest ride, or trim risk without closing out completely.
Advanced order types — scale orders, TWAP, stop-market, and trailing stops — aren't offered today.
## Related
How the simulated competition engine works.
Leverage, margin, and liquidations.