#OrderTypes101 **Order Types 101: Understanding the Basics**

When trading stocks, cryptocurrencies, or other assets, understanding order types is essential for executing strategies effectively. The most common order types include:

1. **Market Order** – Executes immediately at the current market price, ensuring fast entry or exit but with potential price fluctuations.

2. **Limit Order** – Sets a specific price to buy or sell, ensuring price control but no guarantee of execution if the market doesn’t reach that price.

3. **Stop Order** – Activates a market order once a specified price (stop price) is reached, helping limit losses or lock in profits.

4. **Stop-Limit Order** – Combines a stop and limit order, triggering a limit order once the stop price is hit for better price control.

Other advanced orders include **trailing stops**, **fill-or-kill (FOK)**, and **immediate-or-cancel (IOC)**, each serving different trading needs. Choosing the right order type depends on factors like speed, price precision, and risk tolerance. Mastering these basics helps traders optimize execution and manage risk efficiently.

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