#OrderTypes101 Understanding order types is crucial for successful trading! 📈 Here's a quick #OrderTypes101:
➡️ Market Order: Executes at the best available current price. Fast but price isn't guaranteed.
➡️ Limit Order: Executes only at your specified price or better. Gives you price control but execution isn't guaranteed.
➡️ Stop Order: Triggered when the price reaches a certain level (stop price), then becomes a market order. Used to limit losses or protect profits.
➡️ Stop-Limit Order: Similar to a stop order but becomes a limit order (at your specified limit price) once the stop price is reached. Offers more control but execution is less certain.
Choose the order type that best suits your trading strategy and risk tolerance! 🤔
