Order Types Explained
Using the right order type can make or break your trading success.
Market Orders
- Execute immediately at current price
- Guaranteed fill, not guaranteed price
- Used when you must enter NOW
Limit Orders
Buy Limit
- Placed BELOW current price
- I want to buy cheaper
Sell Limit
- Placed ABOVE current price
- I want to sell higher
Stop Orders
Buy Stop
- Placed ABOVE current price
- Buy if it breaks resistance
Sell Stop
- Placed BELOW current price
- Sell if it breaks support
Stop Loss Orders
- Limit your losses
- Exit losing trade automatically
- ALWAYS use stop losses
Take Profit Orders
- Lock in profits automatically
- Exit winning trade at target
Pro Tips
- Limit orders = better fills, may miss trades
- Market orders = guaranteed fill, worse price
- Always set SL before entry