#OrderTypes101 101 Your Guide to Understanding Order Types in Trading

In the world of trading, understanding order types is essential for risk management and profit realization. The first type is the Market Order, which is executed immediately at the best available price. It is suitable for traders who want to enter or exit a trade quickly.

Then there is the Limit Order, which specifies the price at which you want to buy or sell. It is used to achieve a certain price, but it may not be executed if the market does not reach that price.

Next is the Stop Order, which is activated when a certain price is reached, to protect profits or minimize losses.

Each type of order serves a different strategy. Choosing the right type enhances success chances and reduces risks. Learn about the characteristics of each order and determine what suits your trading goals.