#OrderTypes101

Hello, everyone! 🖐😎

Today I would like to briefly remind you of some facts about order types:

A) Market order: buying and selling at the current market price. Pros: fast and no need to make any calculations, cons: there may be a slight price slippage not in your favor;

B) Limit order: you set a price for the exchange and wait for the smart contract to execute. Pros: very convenient and beneficial for you, you already know that you won't lose your money if the exchange occurs, cons: the execution of the order may take a long time due to price fluctuations or the smart contract may not be executed because the market price is too far from the price you set;

C) Stop loss order: you choose an acceptable percentage of money that you can afford to lose; very convenient;

D) Take profit order: you choose the level of potential profit from the trade. The downside that can happen: the current market price allows for much more profit than you set.

These are the main characteristics of the types of trading orders.

I hope this was helpful for you, give it a like.😉💰

Thank you in advance!