#订单类型解析 Common Sense: Eating market orders incurs higher transaction fees than placing limit orders.

Limit Order: Buy or sell at a specified price; if it is more favorable than the latest price on the order book, it will turn into an open order and wait on the order book until the price reaches that point to execute. It may also take a long time to execute. If it is less favorable than the latest price on the order book, it will immediately execute against the best available market order.

If a mistaken order is placed as a large sell order for ten thousand dollars or a large buy order for two hundred thousand dollars, there is no need to worry; it will simply execute as a market order.

In addition to direct limit orders, there is also a best price market order, which can choose the opposing price or the same direction price, suitable for short-term traders.

Basically, retail investors can play until they go bankrupt using only limit orders and best price orders.

Open orders are suitable for counter-trend operations and small capital operations, while market orders are suitable for trend-following operations and large capital operations. Regardless of whether it is a trend-following or counter-trend strategy, and regardless of capital size, learning to set take profit and stop loss is essential.