#OrderTypes101 Order types are instructions to buy or sell assets under specific conditions. Here's an overview:
*Common order types:*
1. *Market Order*: Buy or sell at the current market price.
2. *Limit Order*: Buy or sell at a specified price (or better).
3. *Stop-Loss Order*: Sell when the price falls to a specified level (to limit losses).
4. *Take-Profit Order*: Sell when the price reaches a specified level (to lock in profits).
5. *Stop-Limit Order*: Combination of stop-loss and limit orders.
*Tips for using order types:*
1. *Understand your goals*: Choose order types that align with your trading strategy and risk tolerance.
2. *Set realistic prices*: Ensure limit and stop prices are realistic based on market conditions.
3. *Monitor and adjust*: Adjust orders as market conditions change.