> For the complete documentation index, see [llms.txt](https://help.cheer.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.cheer.trade/trade/part-3-orders-execution-and-advanced-pending-orders.md).

# 🔄 Part 3: Orders, Execution, and Advanced Pending Orders

#### 1. The Core Lifecycle

* Order: Your request to place a trade (e.g., "I want to buy 1 Lot of Gold").
* Deal: The actual execution confirmation match in the historical ledger.
* Position: Your active, live exposure in the market (e.g., "I am currently holding 1 open Lot of Gold").

#### 2. Market Orders vs. Pending Orders

* Market Order: An instant order executed immediately at the best available current price.
* Pending Order: A conditional order. You tell Cheertrade: *"Do not enter the market now. Only open a trade for me if the price hits exactly $X."*

#### 🛠️ The 4 Essential Pending Order Types

| **Pending Order Type** | **How it works (Trigger Logic)**                    | **When to use it (Your Strategy)**                                                                                    |
| ---------------------- | --------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------- |
| Buy Limit              | Places a Buy order BELOW the current market price.  | You believe the price will fall to a cheap support level, bounce off it, and go up.                                   |
| Sell Limit             | Places a Sell order ABOVE the current market price. | You believe the price will rally up to a ceiling resistance level, hit it, and drop down.                             |
| Buy Stop               | Places a Buy order ABOVE the current market price.  | You believe that if the price breaks through a major high, it will trigger a massive upward rally (Breakout Trading). |
| Sell Stop              | Places a Sell order BELOW the current market price. | You believe that if the price breaks down past a major low, it will crash even further.                               |

###


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