āļø Types of Trading Orders in Cryptocurrency
š¹ Market Order š
- Buy or sell immediately at the current price.
- Fast and easy, but it may be subject to price slippage ā”.
š¹ Limit Order šÆ
- You specify the price at which you want to buy or sell.
- Execution may wait until the desired price is reached ā³.
š¹ Stop Loss Order š
- Automatically sells the asset when the price reaches a certain limit to protect capital.
- Reduces losses in volatile markets ā ļø.
š¹ OCO Order (One Cancels the Other) š
- Combines a limit order and a stop loss order in one transaction.
- If one order is executed, the other is automatically canceled ā .
- Useful for setting profit targets and protecting capital at the same time š”.
š¹ Tip š”
Make sure to understand how to set prices for each order to avoid incorrect execution ā ļø.