#OrderTypes101
1. Market Order
• Execute immediately at the best available price
• Pros: Fast execution
• Cons: May result in slippage (difference between expected and actual price)
2. Limit Order
• Execute at a specific price or better
• Pros: Control over price, less slippage
• Cons: May not execute immediately (or at all)
3. Stop-Loss Order
• Execute when price reaches a certain level (stop price) to limit losses
• Pros: Limit potential losses
• Cons: May not execute at desired price (slippage)
4. Take-Profit Order
• Execute when price reaches a certain level to lock in profits
• Pros: Secure profits
• Cons: May miss further potential gains
5. Stop-Limit Order
• Combination of stop-loss and limit orders
• Pros: Control over price and limit losses
• Cons: May not execute if price gaps