When do you use the different types of trades?
🟢 Market Order
Use when: You want to buy/sell immediately at current price.
Best for: Fast execution, high-liquidity assets.
Risk: Slippage (you may pay more or get less than expected).
🟡 Limit Order
Use when: You want to buy/sell at a specific price or better.
Best for: Patience and price control.
Risk: Trade may not execute if price isn't reached.
🔴 Stop-Loss Order
Use when: You want to automatically sell to limit losses.
Best for: Risk management during volatility.
Risk: Sudden drops may trigger early sells.
🟢 Take-Profit Order
Use when: You want to lock in profits at a target price.
Best for: Exiting positions in profit without manual action.
Risk: May miss further price increases.
🔁 Stop-Limit Order
Use when: You want to trigger a limit order only after a certain price is reached.
Best for: More precise control over entry/exit during volatility.
Risk: May not execute in fast-moving markets.
🟠 Trailing Stop Order
Use when: You want to protect profits as price moves favorably.
Best for: Riding trends while limiting downside.
Risk: Whipsaws can trigger stop unintentionally.
🔄 OCO (One Cancels the Other)
Use when: You want to place a take-profit and stop-loss together.
Best for: Automating exit strategy.
Risk: Incorrect configuration can miss both orders.