#OrderTypes101

Here are common order types in cryptocurrency trading:

1. Market Order

- *Description*: Buy or sell a cryptocurrency at the current market price.

- *Use Case*: When you want to execute a trade immediately.

2. Limit Order

- *Description*: Buy or sell a cryptocurrency at a specific price or better.

- *Use Case*: When you want to buy or sell at a specific price level.

3. Stop-Loss Order

- *Description*: Sell a cryptocurrency when it falls to a certain price to limit losses.

- *Use Case*: To limit potential losses if the market moves against your position.

4. Take-Profit Order

- *Description*: Sell a cryptocurrency when it reaches a certain price to lock in profits.

- *Use Case*: To secure profits when the market moves in your favor.

5. Stop-Limit Order

- *Description*: A combination of a stop-loss order and a limit order. When the stop price is reached, a limit order is placed.

- *Use Case*: To limit losses while also controlling the price at which the trade is executed.

6. Trailing Stop Order

- *Description*: A stop-loss order that moves with the price of the cryptocurrency, maintaining a set distance.

- *Use Case*: To lock in profits while giving the trade room to move in your favor.

7. Fill or Kill (FOK) Order

- *Description*: An order that must be executed immediately and in its entirety; otherwise, it is canceled.

- *Use Case*: When you want to ensure that your order is filled completely or not at all.

8. Immediate or Cancel (IOC) Order

- *Description*: An order that is executed immediately, and any unfilled portion is canceled.

- *Use Case*: When you want to execute a trade quickly, but don't require the entire order to be filled.

9. Good 'Til Canceled (GTC) Order

- *Description*: An order that remains active until it is executed or canceled by the trader.

- *Use Case*: When you want your order to remain active until it is filled or you decide to cancel it.

These order types help traders manage their positions and risk in the cryptocurrency market.