#OrderTypes101
Order Type Fundamentals
* Market Orders: These provide immediate execution at the prevailing market price; however, price slippage is a potential risk. ๐๐
* Limit Orders: These allow trading only at a specified price or better, offering greater control but potentially resulting in unfilled orders. โ ๏ธ๐ค
* Stop-Loss Orders: These automatically trigger a sell order when the price falls below a predetermined level, limiting potential losses; however, they may not fully mitigate risk in volatile market conditions. ๐๐
* Take-Profit Orders: These automatically trigger a sell order when the price reaches a predetermined level, securing profits; however, this may result in forgoing potential further gains. ๐ฐ๐
My preferred strategy involves a Limit order for entry and a Take-Profit order for exit, providing control over entry price and automated profit securing. โ ๐
