#OrderTypes101

📌 Trading Orders on Binance – You Need to Understand Them Before You Start

Guys, those who are entering the trading field need to know that there are different orders you use to buy or sell, and each order has its function. If you don't understand them, you might enter a wrong trade and lose.

The most important orders you need to know 👇👇

🔹 Market Order

This is when you buy or sell immediately at the current price.

This means the market executes the order instantly.

But the price might change at the moment of execution, so be careful.

🔹 Limit Order

Here you specify the price at which you want to buy or sell.

For example: the price is now 100 and you want to buy when it reaches 95.

The platform waits until the price you specified is reached.

🔹 Stop Order

This is important if you want to protect yourself from loss.

This means telling the platform: if the price drops below 90, sell quickly.

To minimize the loss.

🔹 Stop-Limit Order

This is a combination of stop and limit.

You specify the activation price and the selling price.

Useful for managing the trade smartly.

🔹 OCO (One Cancels Other)

This is a bit of a professional order.

You place two orders together: one for taking profit and the other for stopping loss.

And as soon as one is executed, the other is automatically canceled.

💬 Summary:

If you're still new, stick to simple orders like limit and market.

And learn before you enter with complex orders to protect your capital.