#OrderTypes101

Here are the basic order types you should know:

*Common Order Types*

- *Market Order*: Buy or sell a security at the current market price. Execution is guaranteed, but price isn't.

- Example: Buying 100 shares of a stock at the current market price.

- *Limit Order*: Buy or sell a security at a specific price or better. Price is guaranteed, but execution isn't.

- Example: Buying 100 shares of a stock at $50 or less.

- *Stop Order*: Buy or sell a security when it reaches a certain price (stop price), becoming a market order.

- Example: Selling 100 shares of a stock if it falls to $40 to limit losses.

- *Stop-Limit Order*: Buy or sell a security when it reaches a certain price (stop price), becoming a limit order.

- Example: Buying 100 shares of a stock if it reaches $50, with a limit price of $52.

*Advanced Order Types*

- *Trailing Stop Order*: Adjusts the stop price based on the security's price movement.

- *Bracket Order*: A group of orders designed to limit losses and lock in profits.

- *Conditional Order*: Automatically submitted or canceled based on specified criteria.

- *One-Cancels-Other (OCO) Order*: A pair of orders where one order cancels the other if executed ¹ ².

*Time-in-Force Options*

- *Day Only*: Order is active for one trading session.

- *Good Till Canceled (GTC)*: Order is active until filled or canceled, up to a specified time limit.

- *Fill or Kill (FOK)*: Order must be executed immediately or canceled ².