#OrderTypes101 Understanding order types is key to smart trading. A market order buys or sells instantly at the best available price—fast but with potential slippage. A limit order sets a specific price to buy or sell, offering control but no guarantee of execution. A stop-loss order automatically sells when the price drops to a set level, helping manage risk. A take-profit order locks in gains by selling when the price hits your target. A stop-limit order combines both stop and limit conditions, offering precision. Trailing stops adjust dynamically with price movement to protect profits. Each order type serves a unique strategy. Mastering them helps you protect capital, reduce risk, and trade more effectively in volatile markets.