#OrderTypes101 - Know Your Orders, Control Your Trades 🎯

Different order types are important to know in order to make intelligent and tactical trades. In this #OrderTypes101 guide, we'll go through the basic order types you will encounter in exchanges.

1️⃣ Market Order – Buy or sell now at the current market price. Fastest way to execute, but you can face slippage.

2️⃣ Limit Order – You decide the price. Your order only executes when the market hits your target price. When planning your entries and exits, Your Limit Order is best.

3️⃣ Stop-Loss Order – Sells your asset at a certain price to minimize losses. This is a risk management must-have.

4️⃣ Take-Profit Order – This captures profit by selling your asset at a specified target price.

5️⃣ OCO (One Cancels the Other) – Set up an order that includes a stop-loss and take-profit in the same set of instructions.

🧠 Knowing the order types and how and when to use them can provide you with additional control and confidence in your trading.

💬 What order type do you typically use? What are you tactics? Let us know in the comments!