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Understanding the Different Order Types | Binance Academy

academy.binance.com · 1,577 words · saved by 1 readers

What’s the difference between a market order and a limit order? Learn everything you need to know about order types at Binance Academy.

Key Takeaways Market orders execute immediately at the best available price, while limit orders let you set a specific price and wait for the market to reach it. Stop Loss and Take Profit orders help you manage risk by automatically closing a position when the price reaches a level you define. Conditional orders, such as Stop Loss Limit and Take Profit Limit, give you more control over the execution price when your trigger is hit. Advanced linked order types including OCO, OTO, and OTOCO let you combine multiple orders into a single strategy. Choosing the right order type depends on…

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