> For the complete documentation index, see [llms.txt](https://docs.predyx.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.predyx.com/trading/what-is-the-hybrid-cda-order-book.md).

# What is the Hybrid CDA Order Book?

#### Understanding Market, Limit, Stop Limit & Stop Market Orders

On **Predyx**, trading happens through a **Hybrid CLOB (Central Limit Order Book)** — meaning all buy/sell orders are matched based on price and time, just like a real exchange.

To maintain the hybrid nature, Predyx uses a toggle between Basic and Pro mode on the betslip. 

The **Basic mode** is useful for normal users where they can simply input the amount of sats and buy the shares. 

The **Pro mode** is for advanced traders who want to utilize all CLOB functionalities including **Real time/Limit/Stop Limit/Stop Market** transactions.

![](/files/CpnV9D1SsVJbdK0bSpgL)

Let’s break down each order type 👇

***

#### ⚡ 1. Market Order (Fastest Execution)

**What it does:**\
Buys or sells **instantly at the best available price** - which is market probability in real time. 

**How it works on Predyx:**

* Open any ‘Market’ on PREDYX 
* Select **“BUY/SELL”** 
* Enter number of shares 
* Click **Buy/Sell** 

![](/files/feEcVsrpuqLzKc3Iy1ft)

**Best used when:**

* You want **instant entry or exit** 
* Price doesn’t matter much 

**Example:**

* YES price = 0.53 
* You click market buy → order fills immediately around that price 

👉 Market orders prioritize execution speed over price precision 

***

#### 🎯 2. Limit Order (Price Control)

**What it does:**\
You set the **exact price** you want to buy/sell at.

**How it works on Predyx:**

* Select **“Pro”** Mode 
* Select **“BUY/SELL”** 
* Select **“Limit”** 
* Set your desired price (e.g., 0.50)
* Enter shares → place order 

![](/files/itOVYvKqOjJ1XRYD1ZHa)

**Best used when:**

* You want a **better entry/exit price** 
* You’re okay waiting 

Example:

* Current price = 0.53 
* You place limit buy at 0.50 
* **Order executes only if price drops to 0.50** 

👉 Limit orders give control but may not execute if price isn’t reached 

***

#### 🛑 3. Stop Limit Order (Precision + Protection)

**What it does:**\
Triggers a **limit order AFTER a certain price is hit.**

**Two prices involved:**

* **Stop Price (Trigger)** 
* **Limit Price (Execution)** 

**How it works on Predyx:**

* Select **“Stop Limit”** 
* Set: Stop Price → trigger 
* Set: Limit Price → actual order 
* Enter shares → place order 

![](/files/1qoCL08YvCt6BMX7WHdg)

**Best used when:**

* You want **controlled execution** 
* Avoiding bad fills (slippage) 

**Example:**

* YES = 0.53 
* Stop = 0.60 (trigger breakout) 
* Limit = 0.62\
  👉 When price hits 0.60 → a limit buy at 0.62 is placed 

⚠️ Risk:

* Order **may NOT execute** if price moves too fast 

👉 Stop-limit gives precision but no fill guarantee 

***

**🚀 4. Stop Market Order (Guaranteed Execution)**

**What it does:**\
Triggers a market order **AFTER a price is hit**

**How it works on Predyx:**

* Select **“Stop Market”** 
* Set Stop Price 
* Enter shares → place order 

![](/files/rbE7HsEhpZ8k4ylte69R)

**Best used when:**

* You need **guaranteed execution** 
* Protecting losses or catching breakouts 

Example:

* YES = 0.53 
* Stop = 0.60\
  👉 When price hits 0.60 → buys instantly at market price 

⚠️ Risk:

* You may get a **worse price (slippage)** 

👉 Stop-market ensures execution but not price certainty 

***

#### 🧠 Quick Comparison

| Order Type  | Execution         | Price Control | Risk     |
| ----------- | ----------------- | ------------- | -------- |
| Market      | Instant           | ❌ Low         | Slippage |
| Limit       | Conditional       | ✅ High        | No fill  |
| Stop Limit  | Conditional       | ✅ High        | No fill  |
| Stop Market | Triggered instant | ❌ Low         | Slippage |

***

#### 💡 Pro Tips for Predyx Users

* **Use Market** → when speed matters 
* **Use Limit** → when price matters 
* **Use Stop Market** → for stop-loss / breakouts 
* **Use Stop Limit** → for advanced precision trading 

***

\ <br>