marketorder

#TakeProfits #limitorder #marketorder #iceberg itUnderstanding Binance Orders: The Simple Way I See It
When I started understanding the order book, one thing became clear: every trade needs a buyer and a seller.
If I place a market buy, it takes the lowest available sell order first. If that amount is finished and I still need more, it moves to the next lowest seller.
For a market sell, it works the opposite way. It takes the highest available buy order first, then moves to the next highest buyer.
This is why a big market order can move the price. If there are not enough sellers at one price, the order starts taking liquidity from higher prices.
A limit order is different. If I place a limit buy at $99,000, I am saying I will buy at $99,000 or lower, not above it. For a limit sell, I want $99,000 or higher.
Then comes the stop-limit order. The stop price is the trigger. Once the stop price is reached, the limit order becomes active. For a buy, setting the limit above the stop gives more room for the order to fill. For a sell, setting the limit below the stop gives more room.
A stop-market order is different because after the trigger it becomes a market order. It focuses more on getting the order executed, while the exact price is not guaranteed.
Take profit is simply a way to close a profitable position at a target, while stop loss is used to get out when the market moves against you.
And finally, the Iceberg order. If someone wants to buy or sell a very large amount without showing the full size in the order book, they can show only a small part at a time. This can help reduce the visible impact of a large order, although it cannot guarantee that the market will not move.
For me, the main thing to remember is:
Market order = execution first
Limit order = price first
Stop order = trigger first
Iceberg = hide the full order size
Once you understand how buyers and sellers match in the order book, Binance order types become much easier to understand.