Every trade starts with choosing an order type. Using the wrong one costs you money through slippage or missed entries. Here's what each one actually does and when to use it.
Executes immediately at the best available price. Guarantees the fill, not the price. Best for highly liquid pairs like BTC/USDT when you need to enter or exit fast and small slippage doesn't matter.
Executes only at your specified price or better. Guarantees the price, not the fill — the order may never trigger if price doesn't reach your level. Best for planned entries and avoiding slippage on larger orders.
A stop order becomes a market or limit order once price hits your trigger level. Used for stop-losses (limiting downside) and stop-entries (buying breakouts above resistance automatically).
Use limit orders for planned entries in calm markets. Use market orders when speed matters more than a few basis points. Always use a stop-loss order to define your maximum risk before you enter any trade.
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