OrderTypes101
Main orders types have (2) types : Spot Trading Order Types and Futures Trading Order Types.
Spot Trading Order Types;
Market Order: make order on market price directly
Limit Order: ordered specified price or better, allowing traders to set a maximum purchase price or a minimum selling price.
Stop-Limit Order: this type has a stop price and a limit price, used to set a minimum amount of profit or the maximum loss on a trade.
Futures Trading Order Types;
Market Order: immediately at the best available price.
Limit Order: at a specific price or better.
Stop Market Order: Similar with a stop-limit order, but the order is work at the best available price when triggered.
Trailing Stop Order: Allows setting a stop order at % away from the market price.
Limit TP/SL Order : A type of strategy order where the order to trigger the limit price is both a take profit and stop loss
I am traders, so use a lot limit Tp/Sl order many times and it prevent from get liquidity nightmare . think, that types are useful is everywhere market buy and sell
