What is the Order Book?
The Order Book is the list showing buy and sell orders for the trading pair. You can place your orders according to the amounts and prices listed in the order book.
What are the available order types?
Market Order:
Market order gives opportunity to buy or sell with the best prices. When you place your order with the amount you want to buy or sell, your order matches immediately with the best sell or buy order. If the best buy or sell order doesn't cover your order, your order matches the following best buy or sell order until it's filled.
Market orders are ideal when trading easily and fast within small price change ranges. For example if you place a buy order for 1 BTC at 9100USDT and the order book has a sell order for 9100USDT with amount equal to 1BTC or higher, your order matches with this order. But if the total amount sell orders at 9100USDT is less than 1 BTC, your order will continue to match the following best sell order (for example 9102USDT) until filled. In this scenario, you'll receive less than 1 BTC because, price increased while you are buying.
All market orders are market taker orders.
Limit Order:
Limit order allows you to set price and the amount when placing your order. When you place a buy order with a price lower than the best buy order or a sell order with a price higher than the best sell order, your order will be sent to the order book and will be kept in the order book until matched or cancelled. In this case your order will be a market maker order. Your order may not match if the price goes opposite of your order price.
When you place a limit order with a very close price to the best buy or sell order, your order may match immediately, according to the price movement. If this case, your order will be a market taker order.
Stop Order:
Stop orders are used to keep your profit or cut the loss when the market goes opposite of your position. For more detailed information on stop orders check this article