Order types and brackets
Market, limit, and stop orders, and how Lune places your Take Profit and Stop Loss as real broker orders.
Lune places three order types on your behalf: market, limit, and stop. This page explains what each one does and how Lune handles your Take Profit and Stop Loss brackets.
The three order types#
The Cockpit order panel and your automations both use the same order types. Pick the one that fits your intent.
MarketFills nowOptionalBuys or sells at the best price available right away. Use it when getting filled matters more than the exact price.
LimitFills at your price or betterOptionalBuys or sells only at the price you set or better. Use it when the price matters more than an instant fill. A limit order may not fill if the market never reaches your price.
StopTriggers at your priceOptionalWaits until the market hits your trigger price, then sends an order. Use it to enter on a breakout or to exit if the market moves against you.
Take Profit and Stop Loss are real broker orders#
When a position has a Take Profit or Stop Loss, Lune places each one as a real order at your broker, not as a note that Lune watches from the side. Your exit sits at the broker, ready to fill on its own.
This matters for two reasons. Your protective exit works even during a brief connection blip, because it already lives at the broker. And your exit fills at broker speed, without waiting for Lune to notice the price and react.
Because your brackets are real broker orders, they keep protecting your position even if your connection drops for a moment. Lune reconciles them against broker truth when it reconnects. See Reliability.
Closing a position#
You can close a position at any time from the Cockpit, the Trade Copier activity table, or the Auto Trader page. Closing a position submits a real broker order.
Closing a position sends a live order to your broker and changes your real market exposure. Confirm the account and size before you close. This action moves real money.
If a position is already flat at your broker but still shows in Lune, use Untrack instead. Untrack removes the position from Lune's view without sending any order. See Positions look wrong.