#OrderTypes101
šÆ In crypto trading, how you enter and exit a trade matters as much as when. Choosing the right order type can make or break your setup.
š¹ Market Order:
Executes instantly at the current market price. I use it when speed matters more than priceālike entering a fast-moving breakout.
ā ļø Risk: You may get slippage in low-liquidity pairs.
š¹ Limit Order:
Set a specific price to buy/sell. Great for buying dips or selling into strength without chasing.
I use it to avoid emotional trades and to stick to my plan.
š¹ Stop-Loss Order:
Automatically exits a position at a set loss threshold. Crucial for risk management! I never trade without one.
š¹ Take-Profit Order:
Locks in gains when your target price is hit. I use this for planned exitsāemotion-free profit-taking.
ā My go-to combo: Limit entry + Stop-Loss + Take-Profit. Itās structured, disciplined, and keeps me from overtrading.
š Once, I skipped a stop-loss on a margin tradeāwatched my gains turn into losses in minutes. Lesson learned.
Trade smart. Use the right order type for the right situation.