Note that some order types described here straddle the “basic” to “advanced” category-so you might want to familiarize yourself with all of them to better understand when and when not to use them.īefore we get started, there are a couple of things to note. But if your orders require a bit more fine-tuning, there are a host of advanced stock order types at your disposal.Īs with the more basic variety of stock orders, you probably want to know these advanced order types really well so you can match them to the appropriate context and avoid errors that could be risky or costly. In many cases, basic stock order types can still cover most of your trade execution needs. If you’re an experienced trader, one whose strategies have grown toward the more sophisticated side of things, then your trade entries and exits might require a bit of extra nuance.
Most advanced orders are either time-based (durational orders) or condition-based (conditional orders) Advanced stock orders are designed for special trading circumstances that require extra specifications.
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