# Terminal Order Types and Exit Strategies, Explained (2026) > Every order type in pump.fun's Terminal, pulled from the live app: market, stop, take profit, dip, trailing, dev sell, DCA, creation. Plus why TWAP is a myth. *Source: https://terminalpedia.com/guides/trading/terminal-order-types-exit-strategies* Most people use a trading terminal for two things: getting in fast and getting out before the exit turns into a decision they make with their thumbs shaking. Terminal is genuinely good at the second part. The order set is deeper than what you get from a Telegram bot, and a couple of the pieces (position-sized take-profits, five-leg exits attached at entry) are things I have not seen done as cleanly elsewhere. It also has one thing everybody claims it has and does not: TWAP. More on that below, because that false claim is repeated in a review that ranks well and it is worth killing. Everything here comes from the shipped application, checked on 6 August 2026, not from marketing copy. That distinction matters more than usual with this product, because the official documentation went offline around March 2026 and several of the order types below were never written up anywhere. > **Key takeaway:** Terminal ships eleven order types. Market buy and sell, stop loss, take profit, dip buy, trailing stop loss, two dev-sell triggers, DCA buy and sell, and a token-launch buy. Take-profits and stop-losses can be sized as a percentage of your live position so they rescale when you add or trim. Up to five exit conditions can be attached to one entry, but they lock the moment you confirm. There is no TWAP order. ## The complete order list This is the actual enum from Terminal's code, matched to the label you see in the app. Nothing here is inferred. | Internal type | What the app calls it | What it does | |---|---|---| | `MARKET_BUY` | Market | Buys at whatever price the route fills at, right now | | `MARKET_SELL` | Market | Sells the same way | | `STOP_LOSS` | Stop Loss | Sells when price falls to your trigger | | `TAKE_PROFIT` | Take Profit | Sells when price rises to your trigger | | `BUY_DIP` | Dip | Buys when price falls to your trigger | | `TRAILING_STOP_LOSS` | Trailing Stop Loss | Stop that follows price up and stays put on the way down | | `DEV_SELL_BUY` | Dev sell | Buys when the deployer wallet sells | | `DEV_SELL_SELL` | Dev sell | Sells when the deployer wallet sells | | `DCA_BUY` | DCA | Splits a buy into scheduled slices | | `DCA_SELL` | DCA | Splits a sell into scheduled slices | | `TOKEN_LAUNCH_BUY` | Creation | Buys at the moment a token is created | Eleven types, eight labels, because buy and sell variants share a tab in the interface. --- ## Market orders, and the setting that ruins them Market buy and market sell are the boring ones, and they are also where most people lose money on this platform, because Terminal's default slippage tolerance in the normal trading interface is 20 percent. In Inferno presets it is 50 percent. On a $2,000 position that setting is mostly theoretical. On a $20 buy into a thin bonding-curve pool it is not, and a Reddit user in February 2026 documented exactly what it looks like from the inside: money draining without an obvious cause, then a $16 buy that sold for $2. They worked it out themselves the next day and posted the fix, which was to turn the slippage down. If you take one thing from this page and you trade small size, make it that. We wrote it up in full: [why small trades lose money on Terminal](/troubleshooting/terminal-slippage-losing-money). > **Warning:** Every conditional order below eventually resolves into a market execution. A take-profit at $0.004 does not sell at $0.004. It sells at whatever the route gives you once the trigger fires, inside your slippage tolerance. On an illiquid token during a dump, the gap between the trigger and the fill is the whole story. ## Stop loss and take profit, sized as a percentage of your position Terminal's take-profit and stop-loss orders can be sized two ways: as a fixed amount, or as a percentage of your live position. The second option is the useful one, and the archived documentation described it as available in Terminal only. Here is why it matters. You buy 1,000,000 tokens and set a take-profit to sell 50 percent at 2x. Then the chart does something interesting and you add another 500,000. On most platforms your take-profit is still sized against the original 1,000,000, so it now sells a third of your position instead of half, and you find out when it fires. On Terminal, a position-based order rescales to 50 percent of 1,500,000 automatically. Trim the position instead and it rescales down the same way. That sounds like a small convenience. In practice it removes a whole class of "why did my TP only sell that much" mistakes, which is the kind of process bug that costs you money without ever showing up as an error. Both order types show up as draggable lines on the TradingView chart, so you can move a stop by dragging it rather than typing a number into a field. ## Dip buys `BUY_DIP` is a stop loss pointed the other way. You set a price below the current one and the order fires when price falls to it. The legitimate use is scaling into something you already believe in without sitting at the screen: you want more at 30 percent lower, so you park the order and go do something else. The use it actually gets is fishing for the wick on a token that keeps having violent retraces. That works right up until the retrace is not a retrace, and your dip buy is the last bid before the deployer dumps. A dip buy has no opinion about why price is falling. ## Trailing stop loss A trailing stop follows price up by a set distance and does not move back down. If you set a 25 percent trail and the token triples, your stop has ridden up with it and now sits 25 percent below the high rather than 25 percent below your entry. This is the single most useful order on a memecoin, for a boring reason: the distribution of outcomes on these tokens is brutal, and the thing that kills returns is not being wrong, it is being right and giving it all back. A trailing stop makes the give-back a number you chose in advance instead of a decision you make at 2am. Set the distance too tight and normal volatility takes you out on the way to the move. On new bonding-curve tokens, 20 to 30 percent is not a wide trail, it is a Tuesday. [Get started](https://terminal.pump.fun/rk/terminalpedia) ## Dev sell triggers The app ships both directions, `DEV_SELL_BUY` and `DEV_SELL_SELL`, and both watch the deployer's wallet. One buys when the dev sells, the other sells when the dev sells. The sell version is straightforward risk management. The deployer dumping is the most reliable single signal that a bonding-curve token is finished, and having your exit already queued against that event is better than watching for it. The buy version is a real strategy some traders run deliberately: the dev dump is often the largest single sell a token ever sees, price craters, and if the token has an actual holder base the bounce off that flush can be violent. It is also an excellent way to buy the top of a rug. Know which one you are doing. Dev sell orders are not in any documentation. They are in the app. ## DCA buys and sells `DCA_BUY` and `DCA_SELL` break one order into scheduled slices instead of firing all at once. Useful for building or unwinding a position in something illiquid, where a single market order would move the price against you by more than the patience costs. Two limitations worth knowing before you plan around it. DCA runs on a **single wallet**, so it does not combine with the multi-wallet execution the rest of the platform supports. And like Dev Sell and Creation orders, it was never documented, which means there is no official statement of how the scheduler behaves under edge cases like a pool bonding mid-schedule. Test it small first. ## Creation orders `TOKEN_LAUNCH_BUY`, labeled "Creation" in the interface, buys at the moment a token is created rather than at a price. It is a sniper order, and it is the most dangerous thing in the list, because at token creation there is no chart, no holder distribution, no volume, and nothing to analyze. You are buying a name and a deployer address. If you are going to use it, the only real defense is the filtering work you do beforehand: dev blacklists, dev funding checks, the whole safety panel. That is a [Trenches](/guides/trading/terminal-trenches-guide) problem more than an order-type problem, and it is covered on that page. Also undocumented. --- ## Exit Strategies: five conditions on one entry This is Terminal's best feature and it deserves the space. When you place a buy, you can attach up to **five independent take-profit or stop-loss conditions** to it. Not one TP and one SL. Five separate legs, each with its own trigger and its own size, all attached to that single entry. Every one of them fires as a market sell when its condition is met. A structure you can actually build with it: The whole plan exists before the trade does, which is the point. Nobody makes good scaling decisions while watching a candle. > **Warning:** This is the real limitation and it is not a small one. Once the buy is confirmed, the attached conditions are locked. You cannot nudge a level, resize a leg, or add a sixth. If the setup changes and your plan no longer fits, the only route is to cancel the strategy and rebuild it, which means the position is briefly unprotected while you do. > > Practical consequence: keep exit strategies simple on volatile entries and save the five-leg structures for positions you are willing to leave alone. ## Sell Initials One button that sells exactly enough of your position to recover what you originally put in. Whatever is left runs on profit. Both constraints come from the app itself: it is **Solana only**, and it **requires you to be in profit**. It is not a partial stop loss. If the trade is underwater, the button will not help you, which is obvious once stated and surprising to people who assume it means "sell my initial size." It removes an arithmetic step that people reliably get wrong under pressure. That is the entire value, and it is enough. ## The Raydium Migration Sniper Pre-set a buy or a sell that fires the instant a pump.fun token migrates off the bonding curve. Orders placed this way land in a separate Snipes tab so they do not clutter your normal open orders. Migration is a genuine liquidity event: the pool structure changes, the buyers who were waiting for a real DEX pool arrive, and the price behavior on either side of it is different from the curve phase. Some traders want to be in before that happens. Others want to be out before it does, because the token that pumped on the curve has now used up its story. The sniper serves both. One thing to keep in mind: bundle analysis, one of the better safety signals in the product, **stops working at migration**. The pre-migration risk read you were relying on goes dark exactly when the sniper fires. [Get started](https://terminal.pump.fun/rk/terminalpedia) ## TWAP orders do not exist on Terminal Repeating it as its own section because the false claim is out there and it is specific. A [third-party review at uwuu.ai](https://uwuu.ai/blog/padre-terminal-review) lists TWAP orders as a Terminal feature. It is not true. Here is exactly how we checked, so you can dismiss the claim yourself rather than taking our word over theirs: - Terminal's order enum has eleven entries. They are listed in the table above. None of them is a TWAP. - Searching the production JavaScript bundle for `TWAP`, case-sensitive, returns **zero matches**. - Searching case-insensitively returns 59 hits, and every single one is the string `twapBoost`, which is a pump.fun token-metadata badge. It describes a property of a token, not an order you can place. If you want time-sliced execution on Terminal, `DCA_BUY` and `DCA_SELL` are the closest thing shipping, and they are not the same product: DCA runs your schedule, a TWAP algorithm targets an average price over a window. Plan around DCA or plan around a different platform, but do not build a strategy on an order type that is not there. > **Note:** Terminal's documentation at docs.padre.gg has been offline since roughly March 2026 and every path on it now redirects to a login wall, so it cannot be cited or checked. Everything on this page was read out of the live production bundle served by terminal.pump.fun on 6 August 2026, cross-checked against archived documentation captures from January to March 2026 where those exist. Where the two disagree, the code wins. Background on the documentation situation is on our [Terminal, formerly Padre](/guides/getting-started/terminal-formerly-padre) page. ## What is live but undocumented Worth collecting in one place, because if you go looking for official guidance on these you will not find any: DCA buys and sells, both Dev Sell triggers, and Creation launch buys are all shipping in the app and appear in no documentation we could recover. Price Alerts and the Alpha Tracker are in the same category. The archived docs also still describe the execution presets as P1, P2 and P3, while the live app renamed them Normal, Fast and Ultra alongside Inferno mode. None of that means the features are unreliable. It does mean the app is your only reference, and that testing with small size before you trust an order type with real money is the reasonable move. ## How this compares Order depth is the strongest argument for Terminal against its main rival. Axiom took meaningful share through 2026, growing fees 37 percent between January and April while pump.fun's fell 44 percent over the same window, and the criticism Terminal draws most consistently is execution speed rather than feature set. If you are choosing between them, our [Terminal vs Axiom comparison](/compare/terminal-vs-axiom) uses cited numbers instead of either side's marketing. Worth pricing in either way: Terminal charges a flat **1 percent** trading fee with no volume tiers, which sits on top of pump.fun's separate 1.25 percent bonding-curve fee. The [fees breakdown](/guides/fees/terminal-fees-explained) shows how those stack on a single trade, and the [referral page](/referral) covers the cashback side, where the rate is set at signup and cannot be changed later. --- ## The bottom line The order set is real and the position-based sizing is better than it sounds on paper. Exit Strategies are the reason to use this platform rather than a Telegram bot, with the caveat that locking them at confirmation turns a five-leg plan into a commitment. Set your slippage before you place anything. Use trailing stops instead of trying to pick tops. And if a review told you Terminal does TWAP, stop trusting that review. New accounts can get started at [terminal.pump.fun](https://terminal.pump.fun/rk/terminalpedia), and if you want the wider picture of what the platform is and who runs it, start with [what Terminal actually is](/ecosystem/what-is-terminal).