📉💡 When I blew $5,400 learning futures, understanding order types saved my trading career. Beginners often blindly hit "Market" during entries or exits, especially when volatility spikes. That’s a fast track to liquidation. Market orders guarantee execution, but not price. I’ve seen market entries fill 0.5% away from my intended price on ETH in minutes! Your $50 planned stop can become a $250 nightmare due to slippage.
Always use **Limit orders** for entries and take profits when you're not desperate for an immediate fill. They save fees and guarantee your price. For stop losses, I typically use a **Stop-Limit** order. It triggers a limit order when your stop price is hit, protecting against crazy slippage. The caveat? It might not fill in extreme dumps. Some prefer **Stop-Market** for...
Always use **Limit orders** for entries and take profits when you're not desperate for an immediate fill. They save fees and guarantee your price. For stop losses, I typically use a **Stop-Limit** order. It triggers a limit order when your stop price is hit, protecting against crazy slippage. The caveat? It might not fill in extreme dumps. Some prefer **Stop-Market** for...