#OrderTypes101
Trading without understanding order types is like going to war with a water gun.
The market is wild, and the order is your weapon. But which one will you choose: a sniper's knife or a hammer?
I break down the types of orders, when to use them, and how they saved me… or sank me:
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🔹 Market Order: “buy at any price”
👊 When you urgently need to enter a trade — you go in at the current price, no questions.
✅ Fast
❌ You can buy higher/sell lower than you planned — especially on low-liquidity pairs.
📌 My fail: once I bought a small alt at market price. The price jumped +7% in a second because there was no depth in the order book. I savored losses like old port wine.
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🔹 Limit Order: “either at this price, or not at all”
🧠 You set your buying/selling price. If the market touches it — the order will execute.
✅ Full control over the price
❌ May not execute at all if the price doesn’t reach.
📌 My favorite type of order: I set a limit order higher for selling, lower for buying. And I catch candles like a fisherman catches pike 🐟
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🔹 Stop-Loss Order: “I want to live”
🚨 Automatically sells the asset if the price drops to a certain level. It's like a safety cushion in a car.
✅ Protection from collapse
❌ May trigger on a false breakout (especially in a “wild crypto morning”)
📌 Real story: if I had set a stop-loss on Terra (LUNA) in 2022 — I would have saved $400. But I “believed in the project”… 😵💫
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🔹 Take-Profit Order: “locking in, and going to drink”
🎯 Automatic sale when the price reaches your target. Especially useful if you can't sit in front of the chart 24/7.
✅ Profit locking
❌ May close the trade before a massive pump (but profit is profit)
📌 My plus: when I was asleep, TP sold my STX +35%. I woke up richer. And happy.
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🤖 Combo orders: pro-hack
Some exchanges allow you to set Stop-Loss + Take-Profit at the same time. This is top-notch. You enter a trade — and immediately set "activate profit or save your skin."
