#OrderTypes101
Solve today's word. For the topic. Trading Bots with four letters to benefit everyone.
In cryptocurrency trading, there are two main types of orders: market orders and limit orders. A market order is an order to buy or sell a cryptocurrency immediately, while a limit order is an order to buy or sell a cryptocurrency at a predetermined price.
Market Orders:
Description:
An order to buy or sell a cryptocurrency immediately, at the current market price.
Execution:
A market order is executed immediately once it is sent to the exchange.
Guarantee:
A market order guarantees execution, but the investor may not be able to obtain the best available price in the market.
Limit Orders:
Description:
An order to buy or sell a cryptocurrency at a predetermined price.
Execution:
A limit order is executed only if the price of the cryptocurrency reaches the specified price or better.
Benefits:
Allows the investor to control the buying or selling price, and helps to avoid potential losses.
Disadvantages:
A limit order may not be executed if the price of the cryptocurrency does not reach the specified price.