Order Types

Rubicon supports multiple order types to suit different trading strategies.

Market Orders

Execute immediately at the best available price.

Use when:

• You need to enter or exit quickly

• Liquidity is deep and spread is tight

• Speed matters more than price precision

Characteristics:

• Guaranteed execution (if liquidity exists)

• Price may slip in fast markets

• Pays taker fees

Example:

Market Buy SOXX
Size: 10 contracts
Execution: Immediate at best ask

Limit Orders

Execute only at your specified price or better.

Use when:

• You have a specific entry/exit price

• You want to reduce fees (maker rebates)

• You're willing to wait for your price

Characteristics:

• Executes at limit price or better

• May not fill if price doesn't reach your level

• Earns maker rebate if posted to book

Example:

Limit Buy SOXX @ $224.00
Size: 10 contracts
Execution: Only when ask <= $224.00

Stop Market Orders (Coming Soon)

⚠️ Not yet implemented — This order type is planned for a future release.

Trigger a market order when price reaches your stop level.

Use when:

• Setting stop-losses to limit downside

• Entering on breakouts

• Automating exit strategies

How it works:

1. Order remains dormant until trigger price is hit

2. When triggered, converts to market order

3. Executes at best available price

Stop Limit Orders (Coming Soon)

⚠️ Not yet implemented — This order type is planned for a future release.

Trigger a limit order when price reaches your stop level.

Use when:

• You want stop-loss protection with price control

• Avoiding slippage on stops

• Markets may gap through your stop

Take Profit Orders (Coming Soon)

⚠️ Not yet implemented — This order type is planned for a future release.

Automatically close position when profit target is reached.

Use when:

• Locking in profits at target levels

• You can't monitor positions constantly

• Disciplined exit strategy

Reduce-Only Orders

Orders that can only reduce your position, never increase it.

Use when:

• Setting stop-losses and take-profits

• Ensuring you don't accidentally flip direction

• Managing risk on existing positions

Characteristics:

• Will only execute up to your current position size

• If position is closed, reduce-only orders are cancelled

• Prevents accidental position reversals

Order Time-in-Force

Type	Behavior
Good-Til-Cancelled (GTC)	Remains active until filled or cancelled
Immediate-or-Cancel (IOC)	Fill immediately or cancel unfilled portion
Add-Liquidity-Only (ALO)	Post-only order; cancels if it would immediately match

Order Parameters Summary

Order Type	Trigger	Execution	Fee Type
Market	Immediate	Best available	Taker
Limit	Price reached	At limit or better	Maker/Taker
Stop Market	Stop price hit	Best available	Taker
Stop Limit	Stop price hit	At limit or better	Maker/Taker
Take Profit	Target hit	Best available	Taker

Best Practices

1. Use limit orders for entries — Better prices, lower fees

2. Always set stop-losses — Protect against large losses

3. Use reduce-only for exits — Prevent accidental position flips

4. Check spread before market orders — Wide spreads mean more slippage

5. Monitor fill status — Limit orders may partially fill