#OrderTypes101 ! Mastering order types is **ESSENTIAL** for trading strategically! Here’s your guide **#OrderTypes101** with the 8 key types, uses, and clear examples. Take control of your trades! 🚀
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### 🛒 **1. Market Order**
- **What it does:** Executes **IMMEDIATELY** at the best available price.
- **When to use it:** Urgency (e.g.: explosive news).
- **⚠️ Risk:** *Slippage* in volatile markets.
> *Example: Buy ETH right now at $3,500 (any price).*
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### ⏳ **2. Limit Order**
- **What it does:** Executes **ONLY at the price you set** (or better).
- **When to use it:** Patience + price control.
- **✅ Advantage:** Zero *slippage*.
> *Example: Buy BTC if it drops to $60,000 (not before).*
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### 🔥 **3. Stop Order (Stop Loss / Take Profit)**
- **To protect profits or limit losses:**
- **Stop Loss:** Sells automatically if the price **FALLS** to a level.
- **Take Profit:** Sells if the price **RISES** to a target.
> *Example: Buy SOL at $150. Stop Loss at $140 (loss limit). Take Profit at $180 (secure profit).*
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### 🎯 **4. Stop-Limit Order**
- **Combines Stop + Limit:**
1. Activates when the price hits the **stop**.
2. Executes **ONLY at the limit price** (or better).
- **✅ Ideal for:** Avoiding sales at ridiculous prices during sharp drops.
> *Example: Stop at $90 (activation) + Limit at $89 (minimum sale).*
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### 🌊 **5. Trailing Stop Order**
- **What it does:** The stop **follows the price** at a fixed distance (%).
- **For:** Maximizing profits in trends.
> *Example: Buy XRP at $0.55. Trailing Stop of 10%: if it rises to $0.60, the stop moves to $0.54. If it drops, sell automatically.*
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### ⚖️ **6. OCO Order (One Cancels the Other)**
- **Two linked orders:** If one executes, the other **is canceled**.
- **For:** Strategies with 2 scenarios (e.g.: breakout or bounce).
> *Example: Current BTC price $62,000. You set:*
