#OrderTypes101 #OrderTypes101 Your concise guide to understanding trading orders on Binance

Are you new to the world of trading or looking to enhance your skills? Let’s take a quick look at the most common types of orders

1. Market Order

Example:

You wanted to buy BNB quickly. Using a market order, you buy it immediately at the best available price in the market. Ideal for immediate execution, but it does not guarantee the price you will pay.

2. Limit Order

Example:

You want to buy BNB at a price of $500, while the current price is $520. You use a limit order at $500; the order will only be executed if the price reaches it or lower.

3. Stop Loss Order

Example:

You bought BNB at $500, but you want to protect yourself from losses if the price starts to drop. You set a stop loss order at $450, so the coin will be sold automatically if the price reaches this level.

4. Trailing Stop Order