What are the types of orders in trading platforms?
When using trading platforms, such as Binance, you will encounter several types of orders.
Understanding these orders is essential to avoid losses and achieve successful trades.
🔹 Market Order:
Immediate buying or selling at the current market price. It's used when you want to execute the trade quickly.
🔹 Limit Order:
You specify the price at which you want to buy or sell, and the trade is executed only if the market reaches that price.
🔹 Stop Order:
Used to minimize losses, as the trade is activated when the price reaches a certain point.
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✅ Summary:
Each type of order has its uses depending on your goal for the trade.
Start with market orders if you are a beginner, then gradually learn to use advanced orders.
📌 In the next lesson: What is technical analysis? And why is it an important tool for traders?
