#OrderTypes101 #PEPE Imagine you are in a restaurant,
1. Market Order
You say
I am hungry, give me food right now.
You don't care about the price. You just want to buy or sell quickly.
But the price may be too high or too low. It's too late, you have already paid.
2. Limit Order
You say
I will buy this only if it is cheap.
You wait for the price you want. If the price does not go down, nothing happens.
So... you wait. And wait...
3. Stop Loss Order
You say
If the price drops too much, sell quickly!
This helps you not to lose more money. You lose a little, not a lot.
4. Take Profit Order
You say
If the price goes up, sell and give me my profit!
This helps you take the profit before the price drops again.
