> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cove.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Choose an order type

> Match your goal to a limit buy, take-profit, stop-loss, trailing stop, or DCA ladder.

Automated orders wait for a condition, then attempt a trade. In Cove, targets use **market capitalization** or a **percentage move**, not an absolute token-price field.

## Which order do I need?

| I want to…                                   | Use                                                   |
| -------------------------------------------- | ----------------------------------------------------- |
| Buy below today's market cap                 | [Limit buy on a dip](/features/limit-orders)          |
| Buy if the token rises to a target           | [Breakout buy](/features/limit-orders#buy-a-breakout) |
| Sell after a gain                            | [Take-profit](/features/take-profit-stop-loss)        |
| Sell after a fall                            | [Stop-loss](/features/take-profit-stop-loss)          |
| Sell after a fall from a new peak            | [Trailing stop](/features/trailing-stop)              |
| Spread buys or sells over a market-cap range | [DCA ladder](/features/dca-orders)                    |
| Add protective orders after future buys      | [Auto TP/SL](/features/settings/auto-tp-sl)           |
| Receive a notification without trading       | [Price alert](/features/price-alerts)                 |

## Understand triggers and execution

For example, a **\$1 million market-cap target** means the order waits for the token's market cap to reach that level. It is not a request to trade \$1 million.

Once triggered, an order executes at the available market quote with applicable settings. A target does **not** guarantee the fill price or proceeds. Fixed take-profit and stop-loss orders can also react to a brief price wick and execute after the price has moved again.

Trigger checks are typically around tens of seconds; network and market conditions can delay execution. Thin liquidity, slippage, fees, or token restrictions can prevent a fill.

## Shared controls

* Open a token → **Limit**, then choose **Limit**, **DCA**, or **Trailing SL**.
* Buy orders use **USD spend**; sell orders use a **percentage of the holding**.
* Default expiry is **30 days**, with a minimum of **1 minute** and maximum of **30 days**.
* Native and launchpad panels do not offer these automated-order controls.
* Manage pending orders in `/orders` within their profile.

<Note>
  Manual alerts expire after 7 days by default; automatic alerts after 5 days. Alert expiry is different from order expiry.
</Note>

## Before placing several orders

Check combined spending and sell allocation, selected wallets, the manual TP/SL basis, and existing active orders. Do not assume every pending order has funds reserved: keep sufficient spendable balance and review the actual panel.

DCA orders are independent market-cap triggers, **not scheduled recurring purchases**. Several rungs can trigger close together.

After placement, open [Manage orders](/features/managing-orders) to verify each order. Orders keep running when you close Telegram, switch profiles, or archive a profile.