#OrderTypes101 #OrderTypes101 📈
New to trading? Understanding order types is crucial to managing risk and timing in the market. Here's a quick breakdown:
🔹 Market Order: Buy/sell immediately at the best available price. Fast, but not always precise.
🔹 Limit Order: Set the exact price you’re willing to buy or sell at. Great for control—no surprises.
🔹 Stop Order: Becomes a market order when a specific price is hit. Used to limit losses or lock in profits.
🔹 Stop-Limit Order: Combines stop + limit. Triggers a limit order at your set price, giving more control—but it may not execute.
🔹 Trailing Stop: Follows the price by a set percentage or amount. It locks in gains as the market moves in your favor.
Choosing the right order type depends on your strategy. Whether you're scalping, swing trading, or investing long-term, mastering these basics gives you the edge. 💡
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