#OrderTypes101 A Quick Guide

Understanding order types is essential for successful trading. The most common type is a market order, which executes immediately at the current price. A limit order lets you set the price at which you want to buy or sell—great for control, but not always guaranteed to fill. A stop order triggers a market order once a set price is hit, often used to limit losses. Stop-limit orders combine features of stop and limit orders. Knowing when and how to use each order type helps manage risk and improve trade execution. Master these basics to trade smarter and with more confidence.