#OrderTypes101

In trading, an order type defines how and when your trade gets executed. Here's a quick breakdown:

Market Order: Buys or sells instantly at the current price. Fast, but no price control.

Limit Order: Sets a specific price to buy/sell. More control, but may not fill immediately.

Stop Order (Stop-Loss): Triggers a market order when the price hits a set level, helping limit losses.

Stop-Limit Order: Combines a stop price with a limit price. More precise but can miss fast moves.

Trailing Stop: Moves with the price to lock in profits as the market rises.

OCO (One Cancels the Other): Two linked orders—if one executes, the other cancels. Great for breakout strategies.

Choosing the right order type helps balance speed, control, and risk. For quick execution, go with market orders. For precise entries or exits, use limit or stop-limit orders. Smart traders mix types to suit their strategies and manage risk effectively.