#OrderTypes101 OrderTypes101: Understanding order types is essential for smart trading. A market order buys or sells immediately at the best available price. A limit order sets a specific price for buying or selling, ensuring price control but not execution. A stop order triggers a market order once a set price is reached, often used to limit losses. A stop-limit order combines both stop and limit features. Trailing stops adjust automatically with market movement to lock in profits. Choosing the right order type helps manage risk and strategy effectively. Always match your order type to your trading goals and risk tolerance.