Common Orders

When you place a buy or sell, you are placing an order. The following table outlines some of the most common orders you can make:

Order Type	Description
Buy limit order	A buy order that won't be executed until the price falls to a specific amount that you indicate.
Buy stop order	A buy order only executed if and when the market reaches a specific price that you indicate.
Limit order	An order executed only once the price reaches a specific level. When you are in a short position and request a limit order, it will be executed only if the price falls to the specified level.
Limit order to sell	A sell order that won't be executed unless the price reaches a specific level that you indicate.
Market order	An order to buy at whatever the best price is at the time the order reaches the trading floor.
Sell stop order	A sell order executed only if and when the market falls to a specific price that you indicate.
Stop limit order	A Stop Limit order combines the features of a stop order and a limit order. After the stop price is reached, the stop server sends a limit order; the order is then executed at the specified limit price or better, market conditions permitting.
Stop loss order	In the case of a long position, a sell order to close if the price falls to a specific amount that you set. In the case of a short position, a buy order to close if the price rises to a specific amount that you set.

For information on how trading strategies handle orders, see About Strategy Order Types.