You're new to the trading world, and it's essential to know that there are more than one type of "order" you can use when buying or selling a stock or cryptocurrency. Each type has a different advantage and helps you control the timing and price of execution more. 🤓💡 Here are the main types:
🔹 Market Order
Buy or sell instantly at the best available price. Fast but not guaranteed to get the best price.
🔹 Limit Order
Set the price at which you want to buy or sell. It will only be executed if the price reaches the limit you set. Ideal if you have a price target.
🔹 Stop Order
Turns into a market order when the price reaches a certain point. Useful for reducing losses when the market goes against you.
🔹 Stop-Limit Order
Combines a stop order and a limit. When the price reaches a certain point, a limit order is executed at the price you choose.$BNB
💬 Tip for beginners:
Start with Market and Limit, and as you learn more about market movements, use Stop and Stop-Limit to protect your investments!
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