One important thing in crypto trading is understanding the types of orders. Don't just buy-sell randomly! There are several common types of orders used:
๐ Market order โ buy/sell immediately at the current market price. Fast, but sometimes the slippage is high.
๐ Limit order โ you can set your own buy/sell price. Suitable for those who are patient and wait for the ideal price.
๐ Stop-limit and stop-market โ very useful for managing risk, for example, to automatically cut losses if the price drops.
By understanding order types, we can be wiser and more strategic in taking positions. Trading is not just about feeling, but also about management!
