Understanding order types is key to effective trading. The most basic is the market order, which is executed immediately at the current price. A limit order allows you to set a desired buying or selling price, and it will be executed only when that price is reached. A stop-loss is a protective order that limits losses: the position will close if the price reaches a certain level. There is also a take-profit order, which automatically secures profit at a specified price. By combining these orders, a trader can minimize risks and automate trading. Proper use of orders helps to trade more confidently and disciplined.