#OrderTypes101 – Let’s break down the most common crypto and trading order types you need to know to trade like a pro:

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🟢 Market Order

Definition: Buys or sells immediately at the best available price.

Use Case: When speed matters more than price.

Pros: Fast execution.

Cons: May get a worse price due to slippage.

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🟡 Limit Order

Definition: Buys or sells at a specific price or better.

Use Case: When price matters more than speed.

Pros: You control the price.

Cons: Might not get filled if price doesn’t reach your limit.

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🔴 Stop Order / Stop-Loss

Definition: Converts to a market order once a set stop price is hit.

Use Case: To cut losses or protect profits.

Pros: Helps automate exits.

Cons: Executes at market, so price can be worse than expected.

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🟠 Stop-Limit Order

Definition: Becomes a limit order once a stop price is reached.

Use Case: More control over exit price than stop-loss.

Pros: Combines stop and limit for precision.

Cons: Might not fill during fast moves.

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🔵 Trailing Stop Order

Definition: Stop price trails the market by a fixed % or $.

Use Case: Lock in profits as price moves in your favor.

Pros: Rides trend while protecting downside.

Cons: Can trigger prematurely on volatility.

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🧠 Bonus: OCO (One Cancels the Other)

Definition: Pairs a limit order with a stop order — if one triggers, the other cancels.

Use Case: Automates trade management (profit + stop-loss).

Pros: Smart risk control.

Cons: Can be tricky on fast-moving assets.