#OrderTypes101 Master the Types of Orders in Trading

Did you know that choosing the right type of order can make a difference in your trades? Here I explain the main types and when to use them:

🔹 Market Order:

Immediate execution at the current price.

Ideal when speed is key, but beware of slippage in volatile markets.

🔹 Limit Order:

Buy/sell at a specific price or better.

Perfect for setting your target price and avoiding surprises.

🔹 Stop-Loss:

Activates as a market order when a "stop" price is reached.

Essential for managing risks and protecting your capital.

🔹 Take-Profit:

Closes your position automatically upon reaching a profit level.

Helps secure profits without constant monitoring.

🔹 Stop-Limit Order:

Combines stop-loss and limit order: activates a limit order upon reaching the stop price.

Greater control, but with the risk of not being executed if the market moves quickly.