#OrderTypes101 1. Market Order
What it does: Buys or sells immediately at the best available price.
✅ Fast execution
❌ Price may be slightly worse due to slippage
Best for: When speed matters more than price
🟡 2. Limit Order
What it does: Buys or sells at a specific price or better.
✅ You control the price
❌ May not fill if price isn’t reached
Best for: Precise price entry/exit and patience
🔵 3. Stop-Loss Order
What it does: Automatically sells when price drops to your stop level to limit losses.
✅ Helps manage risk
❌ May trigger during short dips
Best for: Protecting profits or reducing big losses
🔴 4. Stop-Limit Order
What it does: A stop-loss with control – when the stop price is hit, it places a limit order instead of market.
✅ More price control
❌ May not fill in fast markets
Best for: Risk control with price limits
🟣 5. Take-Profit Order
What it does: Sells automatically when your target price is reached to lock in gains.
✅ Secures profits
❌ May miss higher gains if price keeps rising
Best for: Setting exit goals in advance