#OrderTypes101 To understand the markets and make accurate decisions, it is essential to recognize the types of orders used on trading platforms. This is a simplified look at the most important orders relied upon by professional traders:

1. Market Order:

The order is executed immediately at the best available price in the market.

Used when wanting to enter or exit a trade quickly.

Does not guarantee the price, but guarantees quick execution.

2. Limit Order:

The desired price is specified, and the order is only executed if the market reaches that price.

Useful for getting a specific price.

May not be executed if the market does not reach the specified price.

3. Stop-Loss Order:

Used to limit potential losses, as the sale is executed if the price drops to a certain level.

A necessary tool for risk management.

The level must be accurately defined based on technical analysis.

4. Take-Profit Order:

Executed automatically when the price reaches the target profit level.

Helps secure profits without the need for continuous monitoring.

It is preferable to use it within a well-thought-out trading plan.

Understanding these orders is not a luxury, but a necessity for anyone seeking organized and studied trading. Start building your strategy on a clear basis, and ensure that every order you make serves your goal.