Order Types

Market Order

A Market Order is the simplest and most straightforward order type. When you place a market order, your trade is executed immediately at the best available price in the market.

When to use it: When you want to enter or exit a position quickly and you're not concerned about getting a specific price. This is perfect for beginners.

Example: You see Bitcoin starting to surge and you want to open a long position right away. You place a market order to buy immediately.

Limit Order

A Limit Order allows you to set a specific price at which you want your order to be filled. Your order will only execute if the market reaches your specified price (or better).

When to use it: When you have a target entry or exit price in mind and you're willing to wait for the market to reach that level.

Example: Bitcoin is currently trading at $45,000, but you believe it will dip to $44,000 before going higher. You place a limit order to buy at $44,000. Your order will only execute if the price drops to that level.