Series 14: 2.4.2. Specifying The Type Of Order

2.4.2. Specifying the Type of Order

Orders placed on the market are generally divided into two types: price orders and time orders. A price order is an order to execute a transaction at a specified price or better. A time order is an order to buy or sell by a specified time, after which it is either canceled or converts to a market order or limit order, depending on its specifications. Most of these orders can be found across the markets; however, stop orders (more to follow) are used only on