#OrderTypes101
Types of Orders on Binance
For effective trading on Binance, here are the main types of orders summarized:
📌Market Order: Immediate execution at the current market price, quick but may be affected by volatility.
📌Limit Order: Specify a price for buying/selling, executed when the specified price is reached, for better control.
📌Stop-Limit Order: Activated at a stop price and executed at a limit price, for risk management.
📌OCO Order: Combines a limit order and a stop-limit order, one is canceled when the other is executed, ideal for dual strategies.
✍️Tips:
Use stop orders to minimize losses.
Try orders in a demo account first.
Monitor fees to optimize costs.
