These order types help traders manage risk, automate trades, and execute strategies effectively on the Binance platform as follows pl.
Order Types
1. *Limit Order*: Buy or sell at a specified price.
2. *Market Order*: Buy or sell at current market price.
3. *Stop-Limit Order*: Buy or sell when price reaches a specified level.
4. *Take-Profit Order*: Close position when profit target is reached.
5. *Stop-Loss Order*: Close position when loss limit is reached.
6. *OCO (One Cancels the Other) Order*: Combination of two orders, where one cancels the other.