#OrderTypes101 Here we will provide a brief explanation of order types 101..
Simply put, after consulting with experts in this field, experienced individuals, here is the simplified explanation.. It is a topic related to the types of orders in trading on cryptocurrency platforms, (like Binance) for example.
There are several types of orders that can be used in trading, and they are first...
Common types of orders.
- -Market Order: The order is executed at the current market price.
Secondly...
- -Limit Order*: The order is executed at a pre-defined price.
Thirdly...
- -Stop-Limit Order: The order is executed when the price reaches a pre-defined price...
Fourthly... which is partial
- -Stop-Market Order: The order is executed at the market price when the price reaches a pre-defined price.
Advanced types of orders: There are only two.
First:
--Trailing Stop Order*: The order is executed when the price moves in the opposite direction of the trade.
Secondly:
--Cancel If Not Filled Order*: The order is canceled if it is not executed within a specified time frame... And that's all for now, thank you for following us.
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