#OrderTypes101 Understanding Types of Orders in Trading

In the world of trading, understanding the types of orders is very important for more efficient transaction execution. The most common is the market order, which involves buying or selling an asset directly at the current market price. Then there is the limit order, where we set a specific price and the order will be executed only if that price is reached. There is also the stop-limit order, which is useful for controlling risk: the order will become active when the price hits a certain level, then it changes into a limit order. By understanding each type of order, traders can plan their market entry and exit strategies more wisely.