#OrderTypes101 In trading, understanding order types is key to managing risk and executing strategies. A market order buys or sells instantly at the best available price. A limit order sets a specific price—execution happens only if the market reaches that price. A stop-loss order sells automatically when the price drops to a set level, helping prevent big losses. A stop-limit order combines stop-loss and limit orders, giving more control over price. Take-profit orders secure gains by selling at a target price. Each order type suits different goals—choose wisely based on your trading plan and market conditions.