#OrderTypes101 #OrderTypes101
Different Order Types in Crypto Trading
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1. Market Order: Executes instantly at the current market price. Best for quick trades but may face slippage.
2. Limit Order: Allows you to set a specific price to buy or sell. It executes only when the market reaches your price, offering better control.
3. Stop-Loss Order: Automatically sells an asset when it drops to a set price, helping minimize losses during sudden downturns.
4. Take-Profit Order: Sells an asset when it reaches a predefined profit level, securing gains without constant monitoring.
5. Stop-Limit Order: A combination of stop and limit orders. Once the stop price is triggered, a limit order is placed instead of a market order.
6. Trailing Stop Order: Moves with the market price, locking in profits while still allowing upside movement.
7. OCO (One Cancels the Other): Combines a stop-loss and limit order; when one executes, the other is automatically canceled.
