#OrderTypes101

Understanding the types of orders is essential for trading efficiently.

Market Order: Executes instantly at the best available price. Ideal for speed, but it may have slippage.

Limit Order: Allows you to set a specific price at which you want to buy or sell. The order only executes if the price reaches that level or better. Ideal for controlling entry/exit prices.

Stop-Limit Order: Combines a stop order (trigger) with a limit order. When the price reaches the stop, a limit order is triggered. Crucial for risk management and limiting losses.

Mastering these orders will allow you to execute your strategies with greater precision and control.