Order types explained (Limit, Market, TP/SL)

Learn the basics of each order type and when to use them.

Overview

Each order type serves a specific purpose โ€” from fast execution to strategic entries. Learn when to use Limit, Market, or TP/SL orders effectively.

Order types explained (Limit, Market, TP/SL)

  • Limit: Sets your desired price โ€” executes only when the market reaches it.

  • Market: Executes immediately at current best prices.

  • TP/SL: Automatically closes positions at target profit or predefined loss.

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