#OrderTypes101 The types of orders define how an order is processed in the market, specifying how and at what price it will be executed. Common types of orders include market orders, limit orders, stop orders, stop limit orders, trailing stop orders, among others. Market orders are executed at the best available price, while limit orders are executed at a specified price or better. Stop orders become market orders when a certain price is reached, and stop limit orders become limit orders when a certain price is reached. Trailing stop orders automatically adjust the stop price based on price movements.