#OrderTypes101 Understanding order types is essential for effective trading. The most common is the Market Order, which buys or sells instantly at the best available price—ideal for speed, but may suffer slippage. A Limit Order sets a specific price to buy or sell, offering control but no guarantee of execution. Stop Orders trigger a market or limit order once a set price is reached, useful for minimizing losses or locking in gains. Stop-Limit Orders combine features of stop and limit orders, offering precision but with execution risks. Trailing Stop Orders follow market trends by adjusting the stop price as the asset moves favorably. Mastering these order types helps traders manage risk, automate strategies, and improve timing in volatile markets.