Mastering order types is key to smart trading. Here’s a quick guide:
Market Order: Executes instantly at the best available price—ideal for speed over precision.
Limit Order: Set your price and wait for the market to meet it—perfect for control and planning.
Stop-Limit Order: A two-part tool that triggers a limit order once a set price is hit—great for risk management.
Stop Market Order: Similar to stop-limit but executes as a market order—useful for quick exits.
OCO (One Cancels the Other): Combines a limit and stop-limit order; once one is triggered, the other is canceled—helps automate strategies.
Each order type suits different goals. Choose wisely to stay ahead. 📈