To understand trading professionally, one must be familiar with the different types of orders. There are three main types: Market Order, Limit Order, and Stop Order. A Market Order is used to execute a trade immediately at the best available price, while a Limit Order allows you to specify the price at which you want to buy or sell, and it is executed only when the market reaches that price. The Stop Order is often used as a risk management tool. Let's take an example of the SOL/USDT pair: If the price of Solana is $150, you can place a Limit Order to buy at $140, or a Stop Order to sell at $135 to protect your profits. Choosing the right type of order makes a significant difference in your strategy.

#OrderTypes101