1. Limit
It allows you to buy or sell coins at your preferred price.
Function: If you want to buy a coin at a price lower than the current price or sell it at a price higher than the current price, you use this order. It will only execute when the market reaches your specified price.
2. Market
This is the easiest method for making an immediate trade.
Function: It is used to buy or sell instantly at the best available price in the market. It goes into effect as soon as you click.
3. Stop Limit
This is primarily used to minimize risk. There is a 'Stop' price that activates the Limit Order.
Function: When the market price reaches your specified 'Stop' price, a 'Limit Order' will automatically be placed in the market.
4. Stop Market
This is similar to the Stop Limit but works a bit faster.
Function: When the price reaches your specified 'Stop' price, it executes instantly as a 'Market Order.' That is, your buy or sell will be completed at the best market price at that moment.
5. Trailing Stop
This is an excellent tool for maximizing profit.
Function: If the market price moves in your favor, the price of this order also moves with the market. However, when the market suddenly reverses by a specified percentage against you, it closes the trade.
6. OCO (One Cancels the Other)
Here you can set two orders simultaneously.
Function: You can place both a 'Take Profit' and a 'Stop Loss' simultaneously. When one of these orders is completed, the other is automatically canceled.
7. TWAP (Time Weighted Average Price)
This is generally used for large trade volumes.
Function: Through this order, a large trade is divided into smaller portions and executed automatically at specific time intervals so that it doesn't cause a major sudden impact on the market.
#BinanceTGEUP #OilPricesSlide #BinanceSquareFamily #Tutorialpriceanalysis #tradenell