> ## Documentation Index
> Fetch the complete documentation index at: https://learn.polymarket.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Using the orderbook

### Using the Order Book

Understanding the Order Book will help you become an advanced trader.
In the Getting Started tutorial on [Making your First Trade](/making-your-first-trade), we learned about market orders.

In a market order, your trade executes instantly at the current market price.
But what if you think the market price is too high and want to set a specific price that you would be willing to accept? These are called [Limit Orders](/trading/limit-orders).

### Viewing the Order Book

The order book is a list of every open order to buy or sell shares in a particular market.

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<img className="block w-full h-auto dark:hidden" style={{ maxWidth: '100%', height: 'auto' }} noZoom src="https://polymarket-upload.s3.us-east-2.amazonaws.com/Orderbook-light.png" />

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<img className="hidden w-full h-auto dark:block" style={{ maxWidth: '100%', height: 'auto' }} noZoom src="https://polymarket-upload.s3.us-east-2.amazonaws.com/Orderbook-dark.png" />

In this market, **“Presidential Election Winner 2024”**, we are viewing the order book for Trump <span style={{ backgroundColor: '#E5F8E6', color: '#27AE60', padding: '2px 4px', borderRadius: '4px' }}>Yes</span> shares.

The green side represents the <span style={{ backgroundColor: '#E5F8E6', color: '#27AE60', padding: '2px 4px', borderRadius: '4px' }}>Bids</span>: the highest price traders are willing to pay to buy Trump <span style={{ backgroundColor: '#E5F8E6', color: '#27AE60', padding: '2px 4px', borderRadius: '4px' }}>Yes</span>
shares.

The red side represents the <span style={{ backgroundColor: '#FEEEE5', color: '#F55A00', padding: '2px 4px', borderRadius: '4px' }}>Asks</span>: the lowest price traders are willing to accept to sell Trump <span style={{ backgroundColor: '#E5F8E6', color: '#27AE60', padding: '2px 4px', borderRadius: '4px' }}>Yes</span> shares.

<Tip>
  Notice that there is a 0.3c gap between the highest bid and the lowest ask price. This is referred to as the spread.
</Tip>

### Managing Open Orders

When you have an open order, you'll find it displayed just below the Order Book on the market's page. If you have open orders across multiple markets, you can easily manage and monitor them all from the [Portfolio page](https://polymarket.com/portfolio?tab=Open+orders).

<iframe width="490" height="315" src="https://www.youtube.com/embed/KuA2UdUfZls?si=RUpuzqB9lbBB2pl9" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen />

To cancel the order, you can simply click the red <span style={{ backgroundColor: '#FEEEE5', color: '#F55A00', padding: '2px 4px', borderRadius: '4px' }}>x</span> button alongside the order.

If some of this still isn’t making sense, feel free to reach out to us on [Discord](https://discord.com/invite/polymarket). We’re happy to help get you up to speed.