๐ Crypto Order Types Explained: Market, Limit, Stop-Loss & Take-Profit
#OrderTypes101 #CryptoTrading #BinancePoints
To trade smart, you must master these 4 essential order types in crypto:
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1๏ธโฃ Market Order
๐น How it works: Buys/sells instantly at the best available price.
๐ก Use it when: Speed matters more than price โ like during a breakout or panic sell.
โ ๏ธ Downside: Less control over the exact price.
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2๏ธโฃ Limit Order
๐น How it works: Executes only at a price you set or better.
๐ก Use it when: You want to buy low or sell high without chasing price.
โ ๏ธ Downside: Might not execute if the market doesnโt hit your target.
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3๏ธโฃ Stop-Loss Order
๐น How it works: Automatically sells when the price drops to a set level.
๐ก Use it when: You want to protect against large losses.
โ ๏ธ Downside: In high volatility, price may drop below your stop before executing.
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4๏ธโฃ Take-Profit Order
๐น How it works: Automatically sells when your set profit target is reached.
๐ก Use it when: You want to lock in gains without watching the market 24/7.
โ ๏ธ Downside: May sell too early if the price keeps rising.
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๐ง My go-to?
A combo of Limit + Stop-Loss gives the best risk-reward balance for most strategies.
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๐ Learn these, use wisely, and trade like a pro!