Most people commonly use limit orders, especially during periods of high price volatility, using limit orders to trigger their expected price levels, understanding their potential profits and losses.

The main types of orders in trading are as follows:

Market Order

- Definition: An order that is executed immediately at the current market price, where the user does not specify a price, but instead buys or sells at the best available price in the market.

Limit Order

- Definition: An order where the user specifies a particular price for buying or selling, which will only be executed when the market price reaches or exceeds the specified price.