#OrderTypes101 🚀

Understanding order types is crucial for every trader. Here’s a quick guide:

🔹 Market Order

Buys or sells immediately at the current market price.

Fast execution, but can experience slippage in volatile markets.

🔹 Limit Order

Sets a specific price to buy or sell.

Executes only when the market reaches your price, giving more control.

🔹 Stop-Loss Order

Automatically closes a position at a pre-set price to limit losses.

Useful for managing risk in volatile markets.

🔹 Stop-Limit Order

Combines a stop price and a limit price.

When the stop price is hit, it places a limit order instead of a market order.

Can avoid slippage but might not execute if the market moves too fast.

🔹 Take-Profit Order

Locks in profits by selling when a target price is reached.

Ensures you exit the trade with gains if the price moves favorably.

🔹 Trailing Stop Order

Moves the stop price as the market moves in your favor.

Protects profits while letting winners run.

💡 Pro Tip: Use a combination of these orders to build a solid risk management strategy!