#OrderTypes101
In the trading world, there are several types of orders that help you enter and exit the market according to your strategy. The first type is a Market Order, which is an order that is executed immediately at the current market price and is used when you want to enter quickly without caring too much about the price. Second, there is a Limit Order, which allows you to buy or sell at a specific price you choose, and is used when you want a better price and are willing to wait. The Stop Order is used to protect yourself from losses, and it activates when the price reaches a certain point, turning into a Market Order. There is also a Stop-Limit Order, which combines the stop order and the limit order, so it will only execute at a specific price you set, but it may never execute if the market moves quickly. Finally, there is a Trailing Stop Order, which is a stop loss that moves automatically with the price movement in your favor, and is used to protect profits. Understanding these orders is essential for any trader who wants to reduce risks and make informed decisions.
