Order Types 101
In the cryptocurrency market (and also in traditional markets), order types are different ways to buy or sell assets. The main types include:
Market Order: executes the buy or sell immediately at the best available price. It is quick, but there may be slippage.
Limit Order: sets a specific price to buy or sell. The order will only be executed if the market reaches that price.
Stop Order (or Stop-Loss): is triggered when the price reaches a certain level, protecting against losses.
Stop-Limit: combines a stop and a limit, offering more control.
Understanding these types helps to trade with more strategy and security.