> For the complete documentation index, see [llms.txt](https://traiex.gitbook.io/user-guides/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://traiex.gitbook.io/user-guides/manual-trading-exchange.md).

# Exchange Trading

Choose an order type, place your order and check its fills.

Use **Trade** in the Exchange header to choose a market. The trading terminal lets you place and manage your own orders. It is separate from **Trading** in the AI Trading workspace.

<figure><img src="https://703630284-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F8psVxZuwtDTq9hcLkVYJ%2Fuploads%2Ff5Sk9EYd1lbkwXMMbdKm%2Fterminal-en.svg?alt=media&#x26;token=6b9e176f-c2f7-4062-9e9b-0960b297eb3d" alt="TRAIEX terminal: chart, order book and order form"><figcaption></figcaption></figure>

## Read the terminal

| Area          | What to check                                                            |
| ------------- | ------------------------------------------------------------------------ |
| Market header | Trading pair, latest price and market statistics.                        |
| Chart         | Price history, selected interval and indicators.                         |
| Order book    | Displayed buy and sell liquidity at each price.                          |
| Recent trades | Recently executed trades in the market.                                  |
| Order form    | Side, order type, price, size, available balance and applicable options. |
| Bottom panel  | Open orders, fills, TWAP orders, bots and assets in the Spot layout.     |

Tabs depend on the market. A Futures position and an unfilled Spot order are different things.

## Place a Spot order

1. Select **Trade → Spot**, then choose the pair.
2. Select **BUY** or **SELL** in the order form.
3. Choose an available order type.
4. Enter the size and any required price or trigger.
5. Check the asset units, estimated value, fees and available balance.
6. Submit the order using the selected side's button.
7. Check the order status and any fills. Submission alone does not mean execution.

For BTC/USDT, buying spends USDT to receive BTC; selling does the reverse. The order form shows which unit each field accepts.

## Limit and Market orders

**Limit** sets the highest purchase price or lowest sale price you accept. A marketable limit order can execute immediately; another limit order may wait, fill partly or never fill.

**Market** seeks execution against available liquidity. The final price can differ from the last displayed price, and large or illiquid orders can experience substantial slippage. Full or immediate execution is not guaranteed in every condition.

## Advanced order types

Availability depends on the market and the options shown in the form.

| Type          | How it works                                                                                  |
| ------------- | --------------------------------------------------------------------------------------------- |
| Stop Limit    | A trigger submits a limit order. Reaching the trigger does not guarantee a fill.              |
| Stop Market   | A trigger submits a market order, subject to available liquidity and execution rules.         |
| Take Profit   | A target triggers the configured exit order; execution depends on its type.                   |
| Trailing Stop | A trigger follows a favourable price move and activates after the configured reversal.        |
| OCO           | Links two orders so that the product's execution rules cancel the other when one is executed. |
| TWAP          | Splits an order into smaller orders over a time window.                                       |
| DCA           | Schedules repeated purchases or sales using the bot's parameters.                             |

For DCA, open the **DCA** tab, choose the side and review frequency, timing, order count, size and slippage settings before creating the bot. Check its status after creation.

## Cancel and inspect orders

Open the open-orders tab and cancel the required order. Check the resulting status: an order can execute while a cancellation is being processed. Cancellation affects only the unfilled remainder and does not reverse completed trades.

Review the selected-pair filter before using **Cancel all**. Use order fills or history to check executed quantities and prices.

## Futures and CFD

Futures and CFDs are derivatives: they provide exposure to price changes without direct ownership of the underlying asset. Before submitting an order, check contract specifications, margin mode, leverage, fees and the position's liquidation conditions.

**Mark Price**, **Index Price**, **Liquidation Price** and **Funding Rate** serve different purposes. Use the selected contract's rules to understand which reference price drives a calculation. Losses and liquidation effects depend on margin mode and product rules; do not assume only one position's margin is at risk.

If an order is rejected, check the available balance, minimum size, precision, price limits and market status. See [Wallet and Funds](https://traiex.gitbook.io/user-guides/wallet-and-funds) and [Support](https://traiex.gitbook.io/user-guides/support).

## Next steps

* [Transaction History and Statuses](https://traiex.gitbook.io/user-guides/transactions)
* [Wallet and Funds](https://traiex.gitbook.io/user-guides/wallet-and-funds)