#OrderTypes101

When you buy or sell a cryptocurrency (or any asset), the platform asks you: How do you want the transaction to be executed? This is where the Order Type comes in.

1️⃣ Market Order – Market Order ⚡

🟢 This is the fastest type of order!

You tell the platform: "Buy/Sell for me now at the current market price!"

✅ Great when you want to enter or exit quickly

❌ The price might vary a bit (especially if there's high volatility)

Example: Want to buy Bitcoin quickly? Use Market Order.

2️⃣ Limit Order – Limit Order 🎯

You tell the platform: "I want to buy only when the price reaches this amount."

✅ You can control the price

❌ You can't guarantee it will execute, especially if the price doesn't reach what you set

Example: Bitcoin's price is currently $70,000, you say "I want to buy only when it drops to $68,000" – this is a Limit Order.

3️⃣ Stop Order – Stop Order 🚨

Means: "Let the trade execute if the price reaches a certain point."

📌 Often used for protection against loss, called "Stop Loss"

Example: You bought Ethereum at $3,500, and you say if it drops to $3,200, sell quickly so I don’t lose more.

4️⃣ Stop-Limit Order – Stop-Limit Order ⛔🎯

A combination of Stop and Limit:

If the price reaches a certain point (stop),

it executes a limit order at the price you set.

🔧 A bit complicated but useful in volatile markets.

5️⃣ OCO Order – One Cancels the Other 🧠

Means: "Place two orders for me, if one executes, the other is canceled."

🔥 Very smart! For example:

You say: "If the price rises, I want to sell for a profit"

or "If the price drops, I want to sell at a specified loss"

And as soon as one is fulfilled, the other is canceled.