Three orders do almost everything
Every platform offers a dozen order types. You need three, and one of them is not optional.
Market order — "fill me now"
Executes immediately at the best available price. You get speed and certainty of execution, but not certainty of price.
In calm conditions the difference is a fraction of a pip. Around news it is not: the price you clicked and the price you got can differ by several pips. That gap is slippage, and it is not your broker cheating — it is what happens when the price moves between your click and the fill.
Use market orders when being in the trade matters more than the exact entry.
Limit order — "fill me at a better price"
Rests in the market and executes only if price reaches your level.
- Buy limit sits below the current price. You are waiting for a dip.
- Sell limit sits above the current price. You are waiting for a rally.
Limits give you price certainty and no execution certainty. The market may never come back to you, and the trade you wanted goes without you. That is the trade-off, and it is a real cost — a missed winner costs the same as a loser in expectancy terms.