#OrderTypes101 To buy or sell any asset (stocks, crypto, etc.), you need to give instructions to your trading platform; this is called an order type. Knowing them allows you to trade intelligently and manage your risks.

Here are the essentials:

* Market Order:

* What it does: Buys or sells immediately at the best price available at that moment.

* When to use it: When speed is your priority, regardless of the exact price.

* The good: It executes almost instantly.

* The bad: The final price may vary slightly (slippage).

* Limit Order:

* What it does: Buys or sells only if the price reaches a specific level or better than the one you set.

* When to use it: When the exact price is your priority and you are willing to wait.

* The good: You have total control over the execution price.

* The bad: No guarantee it will execute if the price doesn't reach your level.

* Stop-Loss Order:

* What it does: Activates a market order to sell if the price falls to a predetermined level.

* When to use it: To limit your losses on an open position.

* The good: Protects your capital automatically.

* The bad: There may be slippage if the market moves very quickly.

* Stop-Limit Order:

* What it does: When the price reaches a level (the stop), it activates a limit order at another price (the limit).

* When to use it: You want the protection of a stop, but with more control over the exit price to avoid heavy slippage.

* The good: Less risk of large slippage than a simple stop-loss.

* The bad: If the price passes your limit very quickly, the order may not execute.

Mastering these orders is crucial for any investor.