🟢 1. Market Order

“Get me in the trade right now at the current market price.”

• Instant execution

• Used when you want to enter a trade immediately

• Example: You see EUR/USD at 1.1000 and want in now → Market Buy

✅ Best for: Fast entries in volatile conditions
⚠️ Risk: Slippage during news or fast moves

​

🟡 2. Limit Order

“Get me in the trade at a better price than the current market.”

• Buy Limit: Enter below current price (e.g., catching a dip)

• Sell Limit: Enter above current price (e.g., catching a pullback)

🧠 Think: "Buy the dip, sell the rally"

✅ Best for: Planned entries near support/resistance
📈 Example: Price is at 1.1000, you set a Buy Limit at 1.0950

​

🔴 3. Stop Order

“Enter me in the trade once price breaks through a certain level.”

• Buy Stop: Enter above current price (e.g., on a breakout)

• Sell Stop: Enter below current price (e.g., breaking support)

🧠 Think: "Trade breakouts or momentum continuation"

✅ Best for: Breakout setups
📈 Example: Price is at 1.1000, you place a Buy Stop at 1.1050

​

✅ Summary Table

Order Type.     Triggers When Price….       Used For

Market.             Hits current price.                   Instant entry

Limit                  Reaches a better price.          Pullback or reversal setups

Stop.                  Breaks through a level           Breakouts or momentum