#OrderTypes101 ๐ #OrderTypes101 โ Master the Basics of Trading Orders! ๐
Whether you're trading stocks, crypto, or forex, understanding order types is ๐ to success. Here's a quick breakdown:
๐น Market Order
๐ Executes immediately at the current price.
๐ Use when you want speed over price control.
๐น Limit Order
๐ Buy/Sell at your chosen price or better.
๐ Great for controlling entry/exit price, but may not fill.
๐น Stop Order (Stop-Loss)
๐ Becomes a market order when a set price is hit.
๐ Used to minimize losses or lock in profits.
๐น Stop-Limit Order
๐ Combines stop and limit.
๐ Triggered at your stop price, but only executes at your limit price.
๐ฏ Pro Tip: Use a Limit Order when the market is volatile, and a Stop-Loss to protect your gains!
๐ฌ Which order type do you use most often? Let us know in the comments!
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