#OrderTypes101 Types of Orders in Trading: A Quick Summary
Buy and sell orders are instructions to execute trades in the market. A market order buys or sells immediately at the best available price, ideal for speed, but susceptible to slippage. A limit order allows you to specify a maximum purchase price or minimum selling price, guaranteeing the price but not the execution. Stop orders are triggered at a predefined price; a stop-loss limits losses. A stop-limit combines both, offering price control but without a guarantee of execution. Choosing the right type of order is crucial for managing risk and your trading strategy