【#Order Type Analysis】What I Learned from Not Setting a Stop-Loss
I still remember the first time I used a **Market Order** when the bull market started in 2023.
Seeing BTC soar with a huge bullish candle, I got carried away and placed a market order to enter, only to suffer from significant slippage and ended up buying at a high point. To make matters worse—I completely forgot to set a stop-loss!
A few hours later, the market reversed, and the price plummeted by 10%. I could only watch helplessly as my assets shrank, unable to do anything.
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💡 That experience made me deeply understand the importance of different order types:
1️⃣ Market Order: Immediate execution, suitable for seizing time-sensitive opportunities, but prone to slippage and high risk.
2️⃣ Limit Order: Price control, but uncertain execution time; suitable for conservative traders.
3️⃣ Take Profit / Stop-Loss Order: My favorite! Set a price range, and it automatically sells once triggered, preserving capital without loss.
4️⃣ Conditional Order / Trailing Stop-Loss Order: Advanced usage, helps you exit stably during volatile market movements.
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✅ Now, my trading sequence is:
👉 First analyze the market → Set a limit order to enter
👉 Then pair with take profit/stop-loss to ensure every trade has an exit strategy
👉 If the market changes drastically, I will use a trailing stop-loss to secure profits
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🎯 Advice for beginners:
No matter how busy you are, always set a stop-loss! You can lose once, but don’t lose all your learning capital.
📣 Comment and share your worst order mistake experience with me?
