#OrderTypes101 Bora simplify this talk about buy and sell orders? Because, look... understanding the types of orders is halfway to stop losing money over silly mistakes.
Let's start with the market order. It's the one you place, and the system executes it at the price that is rolling at that moment. It's quick, practical, but sometimes you end up paying more without realizing it, especially in pairs with low liquidity.
Then comes the limit order. Here you set the exact price you want to buy or sell. Like: "I want to buy Solana only when it hits 150 dollars." And that's it, the system keeps your order until it reaches that price. Good for those who have patience and want to pay exactly.
And there are also the stop-limit and stop-market orders, which is where things start to get tangled. These are used to protect positions. You activate the order when the price hits a certain value. Like: "if BTC drops to 102 thousand, sell everything on the market." It's a shield against dumps.
Moral of the story? Knowing how to use the right types of orders prevents losses and improves your profit in the long run. If you're getting into the game, learn this before you start clicking on "buy" like a desperate person. The market doesn't forgive mistakes.