Limit order: A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher
Stop Order: A stop order activates a market order to either buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. As the stop price is surpassed, the order becomes a market order i.e. as soon as the stock surpasses the stop price, it is bought or sold at the market price
Stop Limit order: A stop limit order activates a limit order to either buy or sell a stock once the price of the stock reaches a specified price. It has the same difference with stop order as the difference between a limit order and a market order. Example: A stock is trading at $40, an investor places a stop limit order with stop price $42 and limit price $42.80. As the stock crosses $42 the limit order is activated
Market-if-touched order: It is similar to stop order but the buy and sell happens the opposite way. In case of MIT buy order, the market order is activated when a lower level price is met. While in stop order the market order is activated when a higher level price is met
Discretionary order: A market order whose execution may be delayed at the brokerâ€™s discretion in order to get a better price
Time-of-day order: An order which is executed at a particular period of day
Open order: An order which is in effect until executed or until the end of the trading in the
Fill-or-kill order: An order that must be executed immediately or not at all
Test Your Skills
Test Your Skills Now!
This is only a practice test, it is designed to help you revise your concepts
The test contains questions, only 1 option is correct for each question
This is a timed test.
After you have finished the test, press on the 'Finish Test' button to know your score and get the correct answers