Hello! When placing an order on a trading exchange, there are two types of orders to choose from: market orders and limit orders. Market orders are filled at the best available price, while limit orders set the maximum or minimum price at which a trader is willing to buy or sell. A trader can choose a limit order to control the price he pays or receives, while a market order can be used when execution speed is more important than price, or read actions. Understanding the differences between these order types is essential to successful trading.