# Parameter Explanations

<table data-full-width="true"><thead><tr><th width="259">Parameter</th><th width="161">Strategies</th><th>Purpose</th></tr></thead><tbody><tr><td>Price Limit</td><td>SMO, Slicer, TWAP, TARB</td><td>Upper barrier for buying, or lower barrier for selling. Prevents your strategy from buying at an unfavorable price.</td></tr><tr><td>Happy Level</td><td>TWAP, TARB</td><td>Price level where you are happy to fill the remaining size of the strategy. Strategy will fill as fast as possible at the happy level regardless of the remaining time.</td></tr><tr><td>Trigger Price</td><td>TWAP, TARB</td><td>Determines the price where the strategy will start. Meaning the strategy will be waiting until the market crosses the trigger price.</td></tr><tr><td>Iceberg</td><td>SMO</td><td>Splits your order into multiple orders, executing one after another. This hides the total size of your order for the rest of the market.</td></tr><tr><td>Spike Protections</td><td>SMO</td><td>Protects you against trading unfavorably in volatile conditions.</td></tr><tr><td>Take Profit</td><td>ALO, TARB</td><td>Take Profit level. Behaviour differes between ALO and TARB, please read them individually.</td></tr><tr><td>Stop Loss</td><td>ALO, TARB</td><td>Stop Loss level. Exits with the filled amount of the strategy.</td></tr><tr><td>Reduce Only</td><td>All strategies</td><td>Applies only to Futures. Orders will be sent with reduce only flag, meaning that if there is no position to reduce from, it will be rejected.</td></tr><tr><td>Always passive</td><td>All strategies</td><td>All orders will be forced as maker orders. Rejected orders will be resent at the best bid or best ask.</td></tr></tbody></table>


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