Let's break down the different types of orders:
*1. Market Order*: Buy or sell a security at the current market price.
*2. Limit Order*: Buy or sell a security at a specific price (limit price) or better.
*3. Stop-Loss Order*: Sell a security when it falls to a certain price (stop price) to limit losses.
*4. Stop-Limit Order*: Combination of stop-loss and limit orders. When the stop price is reached, a limit order is triggered.
*5. Take-Profit Order*: Close a position when a certain profit level is reached.
*6. Trailing Stop Order*: Adjusts the stop price based on the security's price movement.
*7. Fill or Kill (FOK) Order*: Execute the entire order immediately, or cancel it if it can't be filled.
*8. All or None (AON) Order*: Execute the entire order, or don't execute it at all.
*9. Day Order*: Order is valid only for the current trading day.
*10. GTC (Good Till Cancelled) Order*: Order remains active until it's executed or cancelled.
These order types help you manage risk, lock in profits, and automate your trading strategies.
Which one would you like to know more about?