#OrderTypes101 Understand the types of orders in cryptocurrency trading

Knowing how to use the right types of orders is essential for any trader. They define how and when you enter or exit a trade. Here are the main ones:

🔹 Market Order

Executes instantly at the best available price. Ideal for when speed is the priority, not price.

🔹 Limit Order

You set the entry or exit price. The order will only be executed if the market reaches that value. Great for those looking for exact prices and control.

🔹 Stop-Loss Order

Protects against large losses. When the price hits the defined value, the order is automatically executed to close the position and limit the loss.

🔹 Take-Profit Order

Works as the opposite of the stop. Ensures that profit is locked in when reaching a certain target.

🔹 Stop-Limit Order

Combination of stop and limit. Helps to have more control during high volatility.

💡 Mastering the types of orders is as important as knowing how to read the chart. Use strategically.