#OrderTypes101 Understanding different order types is key to smart trading on platforms like Binance. A market order executes instantly at the best available price, perfect for quick buys or sells when speed is crucial. However, for more control, a limit order lets you set a specific price at which you want to buy or sell; it only fills if the market reaches your desired price or better.

Then there's the stop-loss order, essential for risk management. It automatically sells your asset if the price drops to a certain point, limiting potential losses. For securing profits, a take-profit order does the opposite, selling your asset once it reaches a set price target. Knowing these basic order types empowers you to trade more strategically.