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#OrderTypes101 : WHAT ARE MARKET LIMIT STOPLOSS AND TAKEPROFIT ORDERS??

Understanding order types is essential for successful crypto trading. The type of order you use determines how and when your trade gets executed. Here's a breakdown of the four main types:

🔹 Market Order

Executes your trade immediately at the current market price.

✅ Best for fast execution

⚠️ You may not get the exact price you expect (due to slippage)

🔹 Limit Order

You set the price at which you want to buy or sell. The order will only be filled when the market reaches your set price.

✅ More control over price

⚠️ It may not execute if the market doesn’t reach your price

🔹 Stop Loss Order

Helps you cut losses by automatically selling your asset if its price drops to a specific level.

✅ Protects you from big losses

⚠️ Can trigger during high volatility

🔹 Take Profit Order

Locks in your profits by automatically selling once the price reaches your target level.

✅ Ensures you secure gains

⚠️ May trigger early in volatile conditions

👉 Smart traders use a combination of these orders to manage risk and improve their trading outcomes.