#OrderTypes101
OrderTypes101 on Binance is an unofficial term used to refer to the basic knowledge of order types in cryptocurrency trading on Binance. It serves as an "introductory course" to help newcomers understand the basic order types, such as:
Market Order: Market order, executed to buy or sell immediately at the current price.
Limit Order: Limit order, set to buy or sell at a specific price and only executed if the market reaches that price.
Stop-Limit Order: Stop-limit order, sets a stop price and limit price to manage risk or take profit.
OCO (One Cancels the Other): A combination order of Limit and Stop-Limit to reduce risk.
In other words, OrderTypes101 is a compilation of basic concepts about order types that helps new users understand and proficiently use them in trading on Binance.ll