Order Types

In Supertrade, traders can use different order types to control execution and manage risk effectively. Understanding these order types is essential for precise entries and exits.

Market Orders

• Definition: Execute instantly at the best available current price.

• Use Case: Ideal when speed of entry or exit is more important than the exact price.

• Note: May involve slippage in highly volatile markets.

Limit Orders

• Definition: Execute only at your chosen price or better.

• Use Case: Helpful for entering trades at a favorable price level or securing better exits.

• Note: Execution is not guaranteed if the market never reaches your set price.

Stop and Stop-Limit Orders

• Stop Order: Triggers a market order once the stop price is reached. Commonly used to enter momentum trades or set protective exits.

• Stop-Limit Order: Similar to a stop order but converts into a limit order instead of a market order, giving more control over execution price.

Take-Profit (TP) and Stop-Loss (SL)

• Take-Profit: Automatically closes a position once the market hits your target profit level, locking in gains.

• Stop-Loss: Closes a trade at a predefined loss level to prevent further downside.

• Tip: Always set TP and SL when opening positions to align with your drawdown rules.

Proper use of order types is key to disciplined trading. They help you control execution, protect against large losses, and secure profits systematically.