Understanding the types of orders is fundamental for any trader. The market order executes immediately at the best available price, ideal for quick entries, but it may have slippage. The limit order allows you to set the exact price for buying or selling, useful for getting better entries, although it does not always get executed. Then there is the stop order, which is triggered when a certain price is reached, used for cutting losses or confirming breakouts. There are advanced variants like OCO (one cancels the other), useful for automating strategies. Mastering these tools allows for greater control and discipline in each trade.
