Common order types each have their characteristics: Market orders are executed immediately at the best current market price, which is fast but the execution price is not fixed, suitable for urgent buying and selling scenarios; Limit orders are set by investors at a specific price, and will only execute when the market price reaches or exceeds that price, allowing for control of transaction costs, but there is a risk of not being executed; Stop-loss orders are used to control losses, and when the market price hits the stop-loss price, they automatically convert to market or limit orders for selling (buying); Stop-limit orders combine both, executing at the preset limit price after the stop-loss price is triggered, allowing for precise price control but may not be executed due to the limit price; Trailing stop orders adjust the stop-loss price in favor of market price movements, locking in profits while promptly stopping losses when trends reverse.