🧠 #ordertypes101 – Easy Guide for New Traders

🔥Just started trading? Understanding order types is one of the first steps to protect your money and make smart moves. 💡

Here are the 4 most common order types (no complex words – promise 😄):

🔹 Market Order – Buy or sell right now at the current price.

👉 Use it when you want to enter or exit fast.

⚠️ Prices can change quickly, so you may not get the exact rate you see.

🔹 Limit Order – You tell the system, "Buy/Sell only at this price (or better)."

👉 Great for getting a better deal, but might not always get filled.

🔹 Stop-Loss Order – Helps you cut your losses. If price drops too much, it sells automatically.

👉 Important for staying safe in a falling market.

🔹 Take-Profit Order – When your target is reached, it sells and locks in your profit.

👉 Perfect if you don’t want to watch charts all day.

🎯 My favorite combo as a beginner:

➡️ Set a Limit Order to enter

➡️ Add a Stop-Loss to protect myself

➡️ Add a Take-Profit to lock in gains

✅ One time I forgot to use Stop-Loss, and a small loss became a big one. Lesson learned!