#OrderTypes101 📘 Order Types 101: Basic Overview

When you trade, you’re placing an order to buy or sell a security. The type of order you use affects when and how your trade gets executed.

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✅ 1. Market Order

What it is: Buy/sell immediately at the best available price.

Use when: Speed > price. You just want to get in or out ASAP.

Pros: Fast execution.

Cons: You might get a worse price due to slippage.

📌 Example: "Buy 100 shares of Apple at market" → your order fills instantly at the current ask price.

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🧭 2. Limit Order

What it is: Sets a specific price you're willing to buy or sell at.

Use when: Price > speed. You want control over the price.