#OrderTypes101
📌 Types of Orders in Trading (Order Types 101) 📌
When trading in financial markets, you need to understand the basic types of orders to execute your trades wisely:
1. Market Order
- Immediate execution at the current price.
- Ideal when you want to enter or exit quickly.
2. Limit Order
- Specify a certain price for buying (below market) or selling (above market).
- Guarantees a specific price but does not guarantee execution.
3. Stop Order
- Becomes a market order when a certain price is reached (like a stop loss).
- Used to limit risk or enter when breaking resistance.
4. Stop-Limit Order
- A combination of Stop and Limit
– Executes only at a specified price after Stop is triggered.
5. OCO Order (One Cancels the Other)
- Links two orders (like selling at profit or loss) and cancels one when the other is executed.
💡 Choose the right order type for your strategy!
