#OrderTypes101 ๐๐ฐ *Order Types* ๐๐ธ
Mastering order types enhances trading! ๐ Here's a breakdown:
- *Market Order*: Execute at current price.
- *Limit Order*: Buy/sell at specific price.
- *Stop-Loss Order*: Limit losses.
- *Take-Profit Order*: Secure profits.
Each type serves a purpose. Market orders prioritize speed, while limit orders prioritize price. Stop-loss and take-profit orders manage risk and lock in gains. Understanding these can improve trading strategy and risk management. Choose the right order type for your goals! ๐๐ก
Which order type do you use most?