#OrderTypes101 The term Order Types 101 means an introductory or basic explanation of order types in trading, especially on platforms like Binance or other cryptocurrency and financial markets.

Explanation of “Order Types 101”

This title is commonly used in articles or educational videos to mean:

“Your beginner's guide to understanding order types in trading”.

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The most important types of orders (Order Types)

Here are the most important types of orders that are usually explained in a topic like Order Types 101:

1. Market Order – Market Order

• Buy or sell the currency at the best available price in the market currently.

• Example: If you click “Buy BTC”, it will be purchased immediately at the best available price.

2. Limit Order – Limit Order

• You specify the price at which you want to buy or sell, and the order is only executed if the market reaches that price.

• Example: You want to buy BTC only if it reaches $60,000. You place a limit buy order at this price $BTC