# Placing Orders

## Trading Modes

**Personal**: Trade with your own balance **Vault**: Trade with investor capital

All orders execute on Hyperliquid L1.

## Prerequisites

* Connected wallet
* Authorized agent wallet
* Builder fee approval
* USDC balance (wallet or vault)

## Order Types

### Market Order

Executes immediately at best available price. Unfilled portions are canceled.

**Use for**: Guaranteed execution, speed over price precision

### Limit Order

Executes only at specified price or better. Remains active until filled or canceled.

**Use for**: Price control, waiting for favorable price

### Post-Only Order

Only executes if it would add liquidity to the order book. Rejected if it would take liquidity.

**Use for**: Earning maker rebates, avoiding taker fees

## Personal Trading

### 1. Select Asset

Click asset selector and choose your trading pair (BTC, ETH, SOL, etc.)

### 2. Configure Order

1. Select **Order Type** (Market/Limit/Post-Only)
2. Select **Side** (Buy/Sell)
3. Enter **Size**
4. Set **Price** (for limit and post-only orders)
5. Toggle **Reduce Only** (if closing position)

### 3. Submit

1. Review details
2. Check margin requirements
3. Click **Submit Order**

Agent signs and sends to Hyperliquid automatically.

### 4. Monitor

View order status in **Orders** tab:

| State     | Meaning                     |
| --------- | --------------------------- |
| Submitted | Sent to exchange            |
| Resting   | Active, waiting for fill    |
| Filled    | Completely executed         |
| Canceled  | Manually or system canceled |

## Vault Trading

Additional safety checks apply.

### 1. Select Vault

1. Toggle **Vault Mode**
2. Select vault from dropdown
3. Verify status is **ACTIVE**

### 2. Pre-Trade Checks

Automatic verification before each trade:

* Vault not paused
* Vault not closed
* Deal deadline not passed
* Sufficient balance
* Balance data is current

Order rejected if any check fails.

### 3. Submit Order

Same as personal trading. Orders use up to 80% of vault balance (20% reserve for safety).

## Reduce-Only Orders

**Purpose**: Close position without opening new one

**Behavior**:

* Only executes if reducing existing position
* Rejected if no position exists
* Cannot increase position size

## Modifying Orders

Resting limit orders can be modified:

1. Find order in **Orders** tab
2. Click **Modify**
3. Change price or size
4. Submit

**Note**: This cancels original order and places new one.

## Canceling Orders

1. Find order in **Orders** tab
2. Click **Cancel**
3. Confirm

Cancellations are free.

## Fees

Orders are subject to Hyperliquid exchange fees plus minimal platform fees.

**Maker** (adding liquidity): May receive rebate **Taker** (taking liquidity): Standard fee

## Troubleshooting

| Issue                | Solution                                         |
| -------------------- | ------------------------------------------------ |
| Insufficient balance | Deposit USDC (personal) or reduce size (vault)   |
| Vault paused         | Risk limits breached, positions closed           |
| Order rejected       | Check vault status, balance, agent authorization |
| Size too large       | Reduce order size, check position limits         |

## Best Practices

**Risk management**:

* Start with small sizes
* Use limit orders for price control
* Use reduce-only for closing positions

**Vault trading**:

* Monitor drawdown limits
* Keep safety buffer (don't use full balance)
* Check status before large trades

**Order types**:

* Market for urgency
* Limit for precision
* Post-Only for providing liquidity

## Next Steps

* [Position Management](/trading/position-management.md)
* [Risk Controls](/trading/risk-controls.md)
* [Agent Wallets](/trading/agent-wallets.md)


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