When you’re ready to buy or sell stocks, you must understand the types of orders available. Each order type has its own set of benefits and risks, so it’s important to choose the one that is best suited for your trading strategy.
This article has been improved and moved into our Course 102 on Stock Market Investing.
102-30 Using Stock Market Orders & Limit Orders For Better Trading
Good stuff! Those are indeed the most common orders placed.
Though I usually place a “stop” order when I trade; where you can buy or sell a stock when it hits a certain price.
When I’m in a long position, I enter a stop order to cut my losses at -8%. When I’m in a short position (God help me if I don’t use stop orders when I’m short) I usually enter a stop order to cover at around -5%.
-Alan