#OrderTypes101

Mastering Trading Commands

Understanding order types is crucial for effective trading. Here are the basics:

1. Market Order: Execute immediately at market price.

2. Limit Order: Buy/sell at a specific price.

3. Stop Order: Trigger a trade when price reaches a certain level.

4. Stop-Limit Order: Combine stop and limit orders.

5. Take-Profit Order: Close position when profit target is reached.

Each order type serves a purpose:

- Market orders for urgency

- Limit orders for precision

- Stop orders for risk management

- Stop-limit orders for control

- Take-profit orders for locking gains

Which order type do you use most? Share your strategy!