#OrderTypes101
Order Types 101 on Binance
To trade smart, you need to understand the tools. Here's a simple breakdown of key order types:
๐ Market Order โ Instantly buys or sells at the current best price. Great when speed matters more than price. โก
๐ฏ Limit Order โ You set the price, and the order waits until the market hits it. Perfect for planning and control.
๐ก๏ธ Stop-Limit Order โ Works in two steps: once a trigger price is reached, a limit order is placed. Useful for managing risks.
๐จ Stop-Market Order โ Like stop-limit, but executes immediately at market price after the trigger. Best for fast exits. ๐จ
๐ OCO (One Cancels the Other) โ Combines a limit and a stop-limit order. When one goes through, the other is canceled. Handy for setting automated strategies. ๐ค
Every order type has a purpose. Choose based on your goals and market conditions.
Trade smart. Stay sharp. Win big.
