š Trading Words Explained #7
š Order Types
āļø Order types decide how your trade is executed on an exchange.
š„ Here are the most common ones:
š¹ Market Order
Executes instantly at the best available price.
ā” Fast but no control over price.
š¹ Limit Order
You choose the price. Trade happens only when the market hits it.
ā More control, but not guaranteed to fill.
š¹ Stop Order / Stop-Loss
Activates a market order when the price hits your stop.
š”ļø Used to protect against big losses.
š¹ OCO (One Cancels the Other)
A combo of limit + stop-loss.
š” When one hits, the other is canceled.
š¬ Pro Tip:
Mastering order types = Better execution, less slippage, more profits šø
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