Are you new to trading? Knowing the different types of orders can help you navigate the markets with confidence!
❤🔥 Market Order
📝 "Used when you want to buy or sell instantly without caring about the exact price."
📌 Example: BTC is at $104,947.85 — you place a market buy order, and it gets filled immediately near that price.
❤🔥 Limit Order
📝 "Used when you want full control over the price at which you buy or sell."
📌 Example: BTC is $104,956.40 — you place a limit buy at $102,008.60. It will only fill if the price drops to $102,008.60 or lower.
❤🔥 Stop-Loss Or Stop Market Order
📝 "Automatically sells your asset to prevent bigger losses when the price drops."
📌 Example: BTC is $104,732.80— you set a stop-loss at $104,500.22. If the price falls to $104,500.22, it sells automatically.
❤🔥 Stop-Limit Order
📝 "Gives you price control while protecting against losses."
📌 Example: BTC is $104,679.28 — You set a stop at $104,500.22 and a limit at $104,220.41. If BTC drops to $104,500.22, a limit sell order at $104,220.41 is placed.
❤🔥 OCO Order (One Cancels the Other)
📝 "Lets you set both a take-profit and a stop-loss — whichever hits first cancels the other."
📌 Example: BTC is $104,606.25 — You place a Take Profit (limit sell) at $106,004.11 and a Stop-Loss (trigger) at $103,020.22, with a limit of $102,900.10. If one gets triggered, the other is automatically canceled.
❤🔥Trailing Stop Order
📝 "Follows the price upward and locks in profit if the price reverses."
📌 Example: BTC is $104,272.70 — you set a 1% trailing stop with an activation price of $103,000. If BTC rises to $105,000, your stop moves to $103,950. If the price drops, it buys at $103,950 (as long as it's within your limit price of $104,400).
