📊 Order Types 101 – Know the Difference or Pay the Price
Placing the wrong type of order won’t just cost you money – it could cost you the trade. Let’s break down the 3 most essential order types every trader must master:
🔹 Market Order
Executes instantly at the current market price.
✔️ Fast and simple
❌ High risk of slippage, especially in volatile or illiquid markets.
🔹 Limit Order
Executes only at your specified price (or better).
✔️ More price control
❌ No guarantee it will get filled – can miss good moves.
🔹 Stop Order (Stop-Loss / Stop-Entry)
Triggers a market order once a certain price is hit.
✔️ Great for managing risk or entering on breakouts
❌ Poorly placed stops = recipe for unnecessary losses.
💡 Pro Tip: Don’t just “place orders” — use them strategically. That’s the difference between trading and gambling.
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