#OrderTypes101 Trading orders are like your instructions to buy or sell assets. Here's a simple explanation:

1. Market Orders

Imagine you want to buy something right now, at any price. That's a market order. It's the fastest, but the final price might vary a bit from what you saw.

2. Limit Orders

Here you are more specific: you want to buy or sell, but only if the price is what you want or better. If the market doesn't reach your price, the order doesn't execute. This way you don't overpay or sell too cheap.

3. Stop Orders

These are to protect you or to take action when the price moves to a certain point. If the price reaches your "stop," the order becomes a market order and executes. They are ideal for limiting losses or taking advantage of market movements.

4. Stop-Limit Orders

These are like a stop order, but with an extra layer of security. When the price reaches your "stop," it doesn't become a market order, but a limit order. This gives you more control so that execution happens at a price that suits you, but you run the risk that the order may not execute if the price spikes.

5. GTT Orders (Good 'Til Triggered)

These orders are for when you have time. You set it and it stays active until the price you want is reached, or until you cancel it yourself. They do not expire at the end of the day like others.

In summary, each type of order gives you a different level of control over the price and speed of execution. Would you like to know more about when to use each one?