#OrderTypes101 OrderTypes101 Let's break down the different types of orders you can use when trading:
1. Market Order
- *Executes immediately* at the best available price.
- *No price guarantee*, but fast execution.
2. Limit Order
- *Executes at a specific price* or better.
- *Price control*, but no guarantee of execution.
3. Stop-Loss Order
- *Triggers a sale* when the price falls to a certain level.
- *Limits potential losses*.
4. Take-Profit Order
- *Closes a position* when the price reaches a certain level.
- *Locks in profits*.
5. Stop-Limit Order
- *Combines stop-loss and limit orders*.
- *Triggers a limit order* when the stop price is reached.
6. Trailing Stop Order
- *Adjusts the stop price* based on market movement.
- *Protects profits* while limiting losses.
7. Fill or Kill (FOK) Order
- *Executes immediately* or cancels the order.
- *No partial fills*.
8. All or None (AON) Order
- *Executes only if the entire order* can be filled.
- *No partial fills*.
9. Good Till Cancelled (GTC) Order
- *Remains active* until executed or cancelled.
- *Can be active for days or weeks*.
10. Day Order
- *Expires at the end of the trading day* if not executed.
- *No overnight risk*.
Understanding these order types can help you manage your trades more effectively and achieve your trading goals.