#OrderTypes101

There are several types of orders that can be used in trading, each with its own features and uses. Here are some common types:

1. Market Order

- *Immediate Execution*: The order is executed at the current market price.

- *Usage*: Suitable for traders who want to enter or exit the market quickly.

2. Limit Order

- *Execution at a Specified Price*: The order is executed at a pre-defined or better price.

- *Usage*: Suitable for traders who want to enter or exit the market at a specific price.

3. Stop Order

- *Execution at a Certain Price*: The order is executed when the price reaches a certain level.

- *Usage*: Suitable for traders who want to limit losses or protect profits.

4. Trailing Stop Order

- *Execution at a Certain Price with Price Movement*: The order is executed when the price moves away from a certain price.

- *Usage*: Suitable for traders who want to protect profits while the trend continues.

5. Good Till Cancelled (GTC)

- *Execution Until Canceled*: The order remains valid until it is executed or canceled.

- *Usage*: Suitable for traders who want to keep their order open for long periods [1].