order

There are projects that do not shout about themselves in every cycle.
They are simply building the infrastructure — and that is why they are often underestimated.
$ORDER (Orderly Network) — one of those projects.
What is Orderly Network
Orderly is an infrastructure layer for on-chain trading with a unified order book that different applications and ecosystems can use.

Beginner Guide
Trading on Binance can feel confusing at first, especially when you see many different order types. Each order type is designed for a specific purpose, some help you buy or sell instantly, while others help you control price, manage risk, or automate your trading strategy.
In this article, we’ll explain all major Binance order types in simple English, when to use them, and how they can help you trade more confidently.
Key Takeaways
Basic orders like Market, Limit, and Limit Maker are the foundation of trading.Exit strategies like Stop Loss and Take Profit help protect your money and lock in profits.Advanced orders such as OCO, OTO, and OTOCO allow you to automate complex trading strategies.Choosing the right order type can reduce risk and improve trading results.
Introduction
When you trade on Binance, you don’t just click “Buy” or “Sell.” You also choose how that trade should be executed. This is where order types come in.
Some traders want speed, some want price control, and others want automatic risk management. Binance offers different order types to meet all these needs, from simple beginner-friendly options to advanced tools used by professional traders.
Let’s start with the basics.
Basic Order Types
Basic order types are simple and easy to understand. Every order requires:
A trading pair (for example, BTC/USDT)A side (BUY or SELL)
1. Market Order
A Market Order buys or sells an asset immediately at the best available price.
When to use it:
When you want to enter or exit a trade quicklyWhen speed is more important than price
Pros:
Instant executionVery easy to use
Cons:
Final price may be slightly different from what you expected, especially in fast-moving markets
Example:

If Bitcoin is trading around $40,000 and you place a Market Buy, Binance will buy it instantly at the best available price.
2. Limit Order
A Limit Order lets you choose the exact price at which you want to buy or sell.
The order will only execute if the market reaches your chosen price (or better).
When to use it:
When you want better price controlWhen you are not in a hurry
Pros:
Full control over priceNo surprise execution price
Cons:
Order may never be filled if the market doesn’t reach your price
Time in Force Options for Limit Orders
Limit orders require a Time in Force, which decides how long the order stays active.
Good Till Canceled (GTC):Order stays open until filled or manually canceled.Immediate Or Cancel (IOC):Tries to fill immediately; any unfilled part is canceled.Fill Or Kill (FOK):Order is filled completely at once or canceled entirely.
3. Limit Maker Order
A Limit Maker (also called Post-Only) order ensures your trade adds liquidity to the market instead of taking it.
If the order would execute immediately, Binance cancels it.
When to use it:
When you want to avoid taker feesWhen you want precise control and don’t need instant execution
Key benefit:
Often lower trading fees
Trading Exit Strategies
Exit strategies help you manage risk and protect profits without watching the market all day.
4. Stop Loss Order
A Stop Loss automatically sells your asset when the price drops to a certain level.
Why it’s important:
Limits lossesProtects your trading capital
Example:

You buy ETH at $2,000 and set a Stop Loss at $1,900.

If the price drops to $1,900, the order sells automatically.
Trailing Stop Loss:
Moves upward as price risesLocks in profit while still protecting against losses
5. Take Profit Order
A Take Profit order sells your asset when the price reaches a profit target.
Why it’s useful:
Secures profits automaticallyNo need to monitor the market constantly
Example:

You buy BTC at $40,000 and set a Take Profit at $42,000.

When BTC reaches $42,000, the order sells automatically.
Conditional Order Types
Conditional orders only activate after a certain price is reached.
6. Stop Loss Limit Order
This order combines:
A Stop Price (trigger)A Limit Price (execution price)
When the stop price is reached, a Limit Order is placed.
Benefit:
More control over the selling priceHelps avoid selling too low during sudden price drop
Risk:
Order might not fill if the price moves too fast
7. Take Profit Limit Order
Works like Stop Loss Limit, but for profits.
When the target price is reached, a Limit Order is placed.Helps lock in profits at your preferred price.
Advanced Order Types
Advanced orders allow you to link multiple orders together for better automation.
8. One Cancels the Other (OCO)
An OCO order places two orders at the same time:
One Take Profit (or Limit)One Stop Loss
If one order is filled, the other is automatically canceled.
Best for:
Managing risk and profit at the same time
9. One Triggers the Other (OTO)
An OTO order places a second order only after the first order is fully executed.
Example:
Place a Buy Limit orderOnce filled, a Sell order is automatically placed
Best for:
Planned entry followed by a planned exit
10. One Triggers One Cancels the Other (OTOCO)
An OTOCO is the most advanced order type.
It works like this:
First order is placed (entry order)After it fills, two exit orders are placed:Take ProfitStop Loss (linked as OCO)
Best for:
Fully automated trading strategiesTraders who want both profit and loss protection set in advance
Closing Thoughts
Understanding Binance order types gives you control, discipline, and confidence as a trader.
Market orders help you act fastLimit orders help you trade smarterStop Loss and Take Profit protect your moneyAdvanced orders automate your strategy
Instead of reacting emotionally to price changes, the right order type allows you to plan your trades ahead of time and let the system do the work.
Master these tools, and you’ll trade not just faster, but smarter.

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