🔍 Your Quick Guide to Understanding Trading Orders on Binance
Are you a beginner or looking to improve your strategy? Here are the key types of trading orders:
1️⃣ Market Order
Executed immediately at the best available price – ideal for speed, but the price may change quickly.
🧠 Example: You buy BNB immediately at the current price.
2️⃣ Limit Order
You specify the price at which you want to buy or sell, and it will only be executed if the price reaches that level.
🧠 Example: Buy BNB only if it drops to $500.
3️⃣ Stop Loss
Automatically triggers a sell order to protect capital when the price drops.
🧠 Example: Sell BNB if it drops from $500 to $450.
4️⃣ Trailing Stop
Automatically moves with the price to secure profits and protect them.
🧠 Example: Tracks the rise of BNB and sells at the first significant price reversal.
5️⃣ OCO Orders (One Cancels Other)
Combines a take profit order and a stop loss, with one being canceled if the other is executed.
💡 Learning to use these orders helps you minimize losses and increase profit opportunities!