Orders in Trading: What a Beginner Needs to Know

Buying crypto or stocks? You need to understand orders. There are two main types:

Market order — buy/sell at the current price without delays. Increased by fees and price slippage.

Limit order – you set a condition. For example, buy me BTC when it drops to $9900. It will only be executed if the price reaches that point.

Next it gets more complicated:

Stop-limit – a combo for insurance. You set two prices: when the stop ( triggers ), and when the limit order will be placed. Example: BTC at 10k, you set the stop at $9900, the limit at $9895 – if it drops by $100, the exchange will try to sell, but not lower than $9895.

OCO (One-Cancels-the-Other) — “either-or”. Two orders simultaneously: buy if it drops to $9900, or sell if it rises to $11k. The first one that executes will automatically cancel the second.

Time-in-Force (order):

• GTC (Good-Till-Cancel) — remains until you cancel it, standard for crypto
• IOC (Immediate or Cancel ) — if you execute even a part, cancel the remainder
• FOK ( Fill or Kill ) — all or nothing, full order or nothing

Main: Market orders are fast but expensive; limit orders are cheaper but may not get filled. Choose based on your trading style.