# Trajectories

In **tread.fi**, **trajectories** define **how orders are executed over time**, shaping how trades interact with **market conditions**. Each trajectory provides a **foundational execution approach**, and [**strategies**](/creating-and-submitting-orders/strategies.md) are built on top of these trajectories, applying specific configurations to achieve different **trading objectives**.

#### **The Four Primary Execution Trajectories**

1. **VWAP (Volume Weighted Average Price)**
   * Adjusts execution **based on market volume**, ensuring orders **scale with liquidity**.
   * Suitable for traders aiming to **minimize market impact** while maintaining a presence in the order flow.
2. **TWAP (Time Weighted Average Price)**
   * Executes orders at a **fixed, consistent rate** over time, **ignoring market volume fluctuations**.
   * Useful for traders seeking **steady execution** with a predictable trading footprint.
3. **Target Time**
   * Concentrates execution **around a specific future event**, ensuring the bulk of the trade occurs **near the designated time**.
   * Ideal for **event-driven trading strategies** that require **precise timing**.

#### **Choosing the Right Trajectory**

Each trajectory serves a different purpose, and selecting the right one depends on **trading objectives, market conditions, and risk tolerance**. Strategies in **tread.fi** leverage these trajectories, applying **advanced configurations** to fine-tune execution behavior.


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