Understanding how different order types work is essential for navigating any trading platform effectively. #OrderTypes101

A market order executes immediately at the best available price. It's useful when speed is more important than precision, but it can lead to slippage in volatile markets.

A limit order allows you to specify the exact price at which you're willing to buy or sell. This gives you more control, but your order may not be filled if the market doesn’t reach your price.

Stop-loss orders are designed to limit potential losses by automatically selling an asset once it falls to a certain price.

Stop-limit orders combine elements of both stop and limit orders, triggering a trade only at your set limit after a stop price is reached.

Choosing the right order type is key to executing a sound trading strategy.