> For the complete documentation index, see [llms.txt](https://pacifica.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://pacifica.gitbook.io/docs/trading-on-pacifica/order-types.md).

# Order Types

The following order types are available on Pacifica:

* **Market:** An order that executes immediately at the best available market prices. Typically used in order to immediately enter or exit a position.
* **Limit:** An order that specifies the price at which it will be executed. Limit orders can remain active based on different time-in-force settings (see below). Typically used when execution price matters more than being filled immediately
* **Stop Market:** A market order that is placed when a price condition is met. Typically used to take profit or limit losses.
* **Stop Limit:** A limit order that is placed when a price condition is met.

**Time-In-Force:**\
All limit orders on Pacifica belong to one of the following TIF options.

* **Good-Til-Cancelled (GTC):** The order remains active on the orderbook until it is either filled or cancelled.
* **Immediate-or-Cancel (IOC):** The order attempts to match immediately at the specified price (or better). Any portion of the order that cannot is not filled immediately is cancelled.
* **Add-Liquidity-Only (ALO):** Also known as **“Post Only,”** this order is added to the order-book only if it would does not immediately match against an existing order.
* **Top-of-Book (TOB):** A special order type that allows "ALO (Post Only)" orders which cross the orderbook to be placed at the best bid/ask possible, instead of being cancelled. Best bid refers to lowest ask in orderbook minus one tick. Best ask refers to highest bid in orderbook plus one tick.

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Note: In order to protect liquidity providers from adverse selection, all market orders, TIF GTC, and TIF IOC orders are subject to a randomized 50-100ms delay.