In trading, **Order Type 101** (also known as **Order Type 101**) typically refers to a Market Order in some platforms or exchanges, especially in Arab financial markets such as the Saudi Stock Market (Tadawul).

What is a Market Order?

- Definition: It is an order to buy or sell a security (stock, currency, commodity, etc.) at the best available price in the market currently.

- Advantages:

- Immediate execution, as it is applied at the best price available in the market at the time of the order.

- Suitable when you want to enter or exit a trade quickly.

- Disadvantages:

- Does not guarantee a specific price, especially in volatile markets or low liquidity.

Is "101" a standard code?

No, order type codes vary between brokers and platforms. In some systems (like Tadawul Saudi Arabia), the code 101 may be used to refer to a market order, while in other platforms, it may have a different meaning. Always refer to the broker or platform guide to confirm the code.

Other common order types:

1. Limit Order: Sets a specific price for buying or selling (e.g., buy if the price reaches 50 riyals).

2. Stop Order: Executes when the price reaches a certain level (used to limit losses or enter a new trade).

3. Stop-Limit Order: A combination of a stop order and a limit order.