#OrderTypes101
Order Type 101
Understand how your trades get executed in the market
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š¢ 1 Market Order
Buy or sell instantly at best available price
Fast execution
No price control
Used when speed matters
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š” 2 Limit Order
Buy or sell at a specific price or better
Slower execution
Full price control
Used when price matters more than speed
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š“ 3 Stop Order
Activates a market order once a certain price is hit
Used to limit losses or enter at breakout levels
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š 4 Stop Limit Order
Triggers a limit order once stop price is reached
Combines price control with conditional execution
Risk missing execution if price moves fast
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šµ 5 Trailing Stop Order
Follows price at a set distance
Locks in profits as market moves in your favor
Auto adjusts upward for long positions downward for short positions
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š£ 6 Fill or Kill Order
Must be filled completely immediately or canceled
Used by traders who want full position size instantly
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āŖ 7 Good Til Canceled GTC
Order stays active until filled or manually canceled
Does not expire daily like regular orders
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š” Each order type fits different goals
Some are for speed
Some for control
Some for protection