#OrderTypes101 Order types are essential for trading in financial markets, helping traders execute transactions based on specific conditions. Here’s a quick primer on key order types:

1. **Market Order** – An order to buy or sell immediately at the best available price. It guarantees execution but not price.

2. **Limit Order** – An order to buy or sell at a specified price or better. It ensures price but may not be executed if the market doesn’t reach the set level.

3. **Stop Order** – Also known as a stop-loss order, it becomes a market order once a specific price (the stop price) is reached.

4. **Stop-Limit Order** – A combination of stop and limit orders; once the stop price is triggered, a limit order is placed instead of a market order.

5. **Trailing Stop Order** – A stop order that adjusts dynamically based on price movement to lock in profits while limiting losses.

6. **Fill-or-Kill (FOK) Order** – Must be executed immediately in full or canceled entirely.

7. **Good-Til-Canceled (GTC) Order** – Remains open until executed or manually canceled by the trader.

Choosing the right order type helps traders manage risk and optimize trade execution in fast-moving markets.