#OrderTypes101 En **Binance**, there are several types of orders you can use to trade in the cryptocurrency market.

### **1. Basic Orders**

- **Market Order**:

Buy or sell at the current market price immediately.

✅ **Advantage**: Quick execution.

❌ **Disadvantage**: There may be slippage (the difference between the expected price and the executed price).

- **Limit Order**:

Buy or sell only at the price you specify (or better).

✅ **Advantage**: Full control over the price.

❌ **Disadvantage**: It may not execute if the market does not reach your price.

### **2. Advanced Orders**

- **Stop-Loss Order**:

Becomes a market order when the price reaches a certain level (to limit losses).

Example: You automatically sell if the price drops below $50.

- **Take-Profit Order**:

Similar to Stop-Loss, but to secure profits. It executes when the price reaches a profit level.

Example: You sell when the price rises to $60.

There are other types of orders, but that will be for another time.

I hope the reading has been to your liking.

Thank you for your time and consideration.