๐ Trading Words Explained #7
๐ Order Types
โ๏ธ Order types decide how your trade is executed on an exchange.
๐ฅ Here are the most common ones:
๐น Market Order
Executes instantly at the best available price.
โก Fast but no control over price.
๐น Limit Order
You choose the price. Trade happens only when the market hits it.
โ More control, but not guaranteed to fill.
๐น Stop Order / Stop-Loss
Activates a market order when the price hits your stop.
๐ก๏ธ Used to protect against big losses.
๐น OCO (One Cancels the Other)
A combo of limit + stop-loss.
๐ก When one hits, the other is canceled.
๐ฌ Pro Tip:
Mastering order types = Better execution, less slippage, more profits ๐ธ
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