#OrderTypes101 Understanding the types of orders is essential in cryptocurrency trading. Here is the analysis:

1. Market Order:

Executed instantly at the current market price.

✅ I use this order when I want to enter or exit a trade quickly, especially in highly liquid markets.

2. Limit Order:

Executed only at a specific price or better.

✅ Great for setting buy or sell prices in advance. I use this order when I don't want to chase the market.

3. Stop-Loss Order:

Automatically sells a position if the price falls to a certain level.

✅ Important for risk management. I always set stop-loss orders to protect capital in highly volatile trades.

4. Take-Profit Order:

Closes a trade when the price reaches a predetermined target.

✅ Helps lock in profits. I use this order along with stop-loss orders to automate my exits.

My strategy:

I often combine limit orders for entry, and stop-loss + take-profit for exit. This gives me both control and protection in any market condition.