#OrderTypes101 Understanding order types is crucial for effective trading. Market orders execute immediately at the best available price, while limit orders execute at a specified price or better. Stop orders trigger a market order when a certain price is reached, often used for risk management. Take-profit orders automatically sell assets when they reach a predetermined price. Each order type serves different strategies and risk tolerance levels. Traders should choose the right order type based on their goals and market conditions to optimize their trading performance.