Traderjoexyz limit orders set a price while liquidity determines the fill.

Setting a target for a token conversion

A token limit order connects a desired exchange price with an amount to trade. The buy or sell direction specifies which token you spend and which token you want to receive.

Buying the selected token

A buy order uses the selected payment asset to acquire the target token. Its price expresses the exchange condition for that purchase. The intended quantity remains separate from the price, and a larger quantity requires more qualifying liquidity.

Selling an existing holding

A sell order converts the selected token into the chosen output asset. The target specifies the exchange price between the selected token and the output asset. An unfilled instruction leaves the intended sale unfinished; entering an order does not establish a completed trade.

Aggregation finds liquidity for execution

LFJ’s aggregator seeks executable on-chain liquidity for terminal orders. This mechanism differs from matching your order directly against a queue of opposing orders in a conventional order book. The amount available for execution matters alongside the displayed price.

Liquidity Book describes how a pool arranges liquidity; aggregation describes how trading finds liquidity. A pool’s reserves can contribute to execution without making the limit order itself a liquidity-provider position. Liquidity providers can earn pool trading fees, while terminal traders receive output tokens after the platform deduction.

Why can a chart touch the target without a full fill?

A chart reaching the target does not establish that enough executable liquidity exists for the entire requested trade. LFJ terminal limit orders support partial fills when qualifying liquidity covers only part of the trade size.

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The execution fee changes the received amount

The terminal’s limit-order schedule charges a platform fee at execution. LFJ deducts a 1% platform fee from the output tokens of an executed terminal limit order. That deduction changes the net quantity received, even when execution meets the target price.

Gross output and net output

Gross output is the token amount before the platform deduction. Net output is the amount after that deduction. Compare gross output with received output in the same token, and keep the requested input separate.

Network gas remains separate

The platform percentage excludes network gas, which goes to the blockchain network. Network activity and the selected gas settings affect that separate cost. The trading interface displays the platform fee before confirmation, allowing the target price and net proceeds to be considered together.

Expiry ends execution eligibility, while cancellation ends an unwanted order

An expiry time sets the point after which a terminal limit order can no longer execute. That boundary concerns the order’s remaining eligibility, not whether its earlier executions occurred.

Unfilled orders that expire require a manual funds claim. Expiration and recovery of those funds are separate actions, so an expired status alone does not establish a returned wallet balance.

Cancellation provides another way to end an order that you no longer want. It does not reverse a completed exchange. When an order has already filled partly, the executed portion remains part of the trading history.

The unfilled amount and received output belong to different balances. Combining them can overstate the quantity that a sale converted.

Pool-based maker orders explain older fee descriptions

Trader Joe’s April 6, 2023 Liquidity Book V2.1 announcement described forthcoming maker-style limit orders. The proposed design would deposit tokens into a pool and withdraw liquidity when the desired price was met. Providing liquidity could earn a share of pool trading fees. Those economics concern the maker role described at that time, rather than the terminal’s output-fee schedule.

Ordinary single-sided Liquidity Book positions also let a deposit convert into the pool’s other asset as trading reaches its range. The deposited liquidity participates in the pool, and conversion can require monitoring before withdrawal. An aggregated terminal order and a pool deposit therefore use capital differently. JOE staking is another separate position that shares collected trading fees; an order entry is not a staking deposit.

Is a sell limit order the same as a stop-market order?

A sell limit order and a stop-market order use different execution conditions. A limit sets the desired exchange price; LFJ’s stop-market tool triggers a market sale when the token price drops through the selected stop level.

A price-conditioned sale

A sell limit order can remain unfilled while it waits for liquidity at the required price. It suits an instruction that should execute only when the required exchange terms are available.

A triggered market sale

A stop-market instruction responds to the trigger by selling against the available on-chain liquidity. The trigger price does not fix the eventual sale rate. A brief downward price wick can activate the sale before a recovery, so the trigger and execution price need separate interpretation.

Scheduled DCA orders distribute execution over time

LFJ’s dollar-cost averaging (DCA) orders divide a total amount into scheduled trades. Terminal DCA orders require at least $100 USD in total value. Their settings include the total amount, running time, and number of executions. A single limit order waits for its price condition; a DCA schedule distributes trading opportunities across intervals.

An optional maximum price can pause DCA execution when the token exceeds that bound. This adds a price condition to the schedule without turning its installments into one limit order. The fee applies to each executed installment. Price pauses can push completion beyond the initial estimate, leaving some of the intended amount undeployed while the schedule waits.