#OrderTypes101 Order types are essential tools for managing risk and executing trades effectively. The most basic is a market order, which buys or sells instantly at the best available price. A limit order lets you set the exact price you want to buy or sell at – it gives more control but may not fill immediately. Then there’s the stop-loss order, which automatically exits your trade at a specific price to limit losses. Take-profit orders lock in gains at a chosen price. Mastering these order types helps you trade smarter and avoid emotional decisions.