The price at which an order is filled can vary depending on the order type. Here's a breakdown of why different order types may be filled at a different price:
Order Type
Reason
Solution
Market Order
These orders do not guarantee a specific fill price and are subject to slippage.
To control the fill price, consider using Limit Orders, which allow you to set a specific price.
Stop Market Order/Take Profit Market
These orders execute at the market price when the trigger price reaches the stop price. The fill price can differ from the stop price if the orderbook changes significantly between the order triggering and execution.
To avoid slippage, consider using Stop Limit Orders. These orders execute only at the limit price or better. However, if the price moves rapidly away from the limit price, the order may not be filled and will remain in the orderbook.
Limit Order/Take Profit Limit/Stop Limit Order
These orders are designed to execute at the limit price or better. Buy orders will execute at the limit price or lower, while sell orders will execute at the limit price or higher.
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