#OrderTypes101

Understanding different order types is essential for smart trading. The most basic is the Market Order, which executes immediately at the current price-perfect for quick entries or exits, but it may face slippage. A Limit Order lets you set a specific price at which you want to buy or sell, offering more control but no guarantee of execution if the market doesn’t hit your price.

A Stop-Loss Order helps manage risk by automatically selling a position when it falls to a certain price. On the flip side, a Take-Profit Order locks in gains by selling when the price hits your target. Stop-Limit Orders combine both stop and limit functions, giving precise control in volatile markets.

For advanced users, there are Trailing Stops, which follow the market price to lock in profits while allowing room for growth. Mastering these types helps traders manage risk, automate strategies, and stay ahead.