#OrderTypes101 The types of orders in trading determine how and when a trade is executed. The most common types are 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 desired price or better. Stop orders become market orders once a specific price is reached, and stop-limit orders combine the trigger of a stop order with the specification of a limit order price. The use of each type will depend on each trader.