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Market Order: A trade that can be
executed at any price. If you are a buyer of a stock you will receive the next
available price. If you are a seller, you will take any offer from a buyer in
the market.
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Limit Order: As a buyer of a security you
specify the most you are willing to pay for a stock. As a seller, you demand a
certain price that is the least you will accept from a buyer.
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Stop-Limit Order: When you are a buyer of
stock, once your limit order to buy is reached, the next order is your sale.
Once the seller's limit order is triggered, the next tick will be their sell
order.
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Buy Stop Order - A short seller may attempt
to protect against losses by putting this order to use. The order is usually
placed at a higher price than their short sale, in order to protect
themselves from unlimited losses that can occur if the security rises in price.
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Day Order - A security order that is only
good for the day.
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Good Till Cancel - This trade is usually used
in concert with limit or option order. The trade will not be canceled until the
buyer or seller request it.
