#OrderTypes101

Trading orders are considered essential tools used by traders to execute their strategies in the cryptocurrency market. These orders help traders determine how to enter and exit the market accurately. Here are the main types of orders available on trading platforms:

## Basic Orders

### 1. Market Order

* **Definition**: An order to buy or sell cryptocurrency immediately at the best available price in the market

* **Advantages**: Immediate execution of the trade

* **Disadvantages**: Cannot specify the price accurately, and the execution price may differ from the displayed price (especially in volatile markets)

### 2. Limit Order

* **Definition**: An order to buy or sell cryptocurrency at a specified price or better

* **Advantages**: Greater control over entry or exit price

3. Stop Loss Order

* **Definition**: An order to sell cryptocurrency when its price reaches a certain level to limit losses

* **Advantages**: Helps in managing risks and protecting profits