#OrderTypes101 Type of order 101 is a general term used to refer to basic or common order types in trading. These types include market orders, limit orders, stop orders, and stop-limit orders. Market orders are executed immediately at the current market price, while limit orders specify a price at which you want to buy or sell. Stop orders become market orders when a certain price is reached, and stop-limit orders are a combination of both, with a limit price for execution.