#OrderTypes101
Market Order: This executes immediately at the best available current market price.
It prioritizes speed, guaranteeing execution but not a specific price, making it suitable for urgent trades.
Limit Order: This allows you to set a specific buy or sell price. Your order only executes if the market reaches that price or better.
It offers price control and is ideal for strategic entries/exits, though there's no guarantee of execution if the price isn't met.
Stop Order (often Stop-Loss): This order becomes active when a "stop price" is reached. A common use is a "stop-loss" to limit potential losses.
Once triggered, it converts into a market order to sell at the best available price.
A more advanced variant, the Stop-Limit Order, combines a stop price with a limit price, offering more control over the execution price once triggered.
