👨💼Before even considering embarking on crypto trading, one must comprehensively understand the assets and technologies involved. The cryptocurrency market can also be challenging for newbies and seasoned traders due to the many jargon and processes involved, so it is essential to learn how it works.
📝There are numerous ways to buy and sell using different orders, and each way has its purpose. Here are the four common trading order types:
✔ Buy Limit→ Order is placed at the limit or below the current price
✔ Buy Stop → Order is placed higher than the current price
✔ Sell Limit → Order is placed at the limit or above the current price
✔ Sell Stop → Order is placed lower than the current price
📊A buy limit order will perform at the limit price or lower. A sell limit order will complete at the limit price or higher. Overall, a limit order lets you define a price.
📈Buy Stop and Sell Stop are predefined price levels that signal an asset's buy or sell order at some point in the future. Once the price of the trading assets reaches a certain level, the order is executed.
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