#OrderTypes101
📊 #OrderTypes101
Understanding crypto order types can help you trade smarter and avoid costly mistakes. Here’s a quick breakdown:
🔹 Market Order – This buys or sells instantly at the best available price. It's fast but can lead to slippage during volatile times.
🔹 Limit Order – You set the price you want to buy or sell at. The trade only happens if the market hits your chosen price. Great for patience and control.
🔹 Stop-Loss Order – A safety net! It automatically sells your asset if the price drops to a level you choose, helping limit potential losses.
🔹 Take-Profit Order – Locks in your gains by selling automatically when your target price is reached.
💡 Pro tip: Combining stop-loss and take-profit helps manage both risk and reward. Know your plan before you place a trade .
