Order Types
BeginnerAll available order types and when to use them.
Understanding the different order types available is crucial for executing your trading strategy effectively.
Market Orders
A market order executes immediately at the best available price. Use market orders when you need instant execution and are willing to accept the current spread.
Limit Orders
A limit order specifies the exact price at which you want to buy or sell. The order only executes if the market reaches your specified price. Use limit orders for better entry prices.
Stop Orders
A stop order becomes a market order when the price reaches your stop level. Commonly used for stop-losses to protect against adverse price moves.
Stop-Limit Orders
Combines a stop trigger with a limit price. When the stop price is hit, a limit order is placed instead of a market order. Offers more control but may not fill in fast-moving markets.