Lesson 5 · Basic · 6 min
Order types
Market and pending orders, Stop Loss and Take Profit — which tool for which task.
Market order
Executed immediately at the current price. Use it when entering right now matters.
Pending orders
Let you set the entry price in advance — the order triggers when the price reaches it, even if the terminal is closed.
- Buy Limit — buy below the current price (waiting for a pullback).
- Sell Limit — sell above the current price (waiting for a bounce).
- Buy Stop — buy above the current price (waiting for an upside breakout).
- Sell Stop — sell below the current price (waiting for a downside breakout).
Stop Loss and Take Profit
Stop Loss closes a position at a set loss, Take Profit at a set profit. Set the Stop Loss as soon as you open the trade: that way you decide how much you are willing to lose in advance, not in a moment of panic.
Key takeaways
- Limit — entry at a better price, Stop — entry on a breakout
- Pending orders work without the terminal
- Set the Stop Loss right away