Market, Limit and Stop Orders for Beginners
Understand execution, slippage, maker/taker fees and common mistakes across three order types.
Market Orders Prioritize Execution
A market order consumes available order-book quotes and usually fills quickly, but can slip during volatility or low liquidity. The last price is not necessarily the average price for the whole order.
Limit Orders Control Price
A limit order fills only at the specified price or better and may partially fill or not fill. Resting orders are usually maker, but a marketable limit order can still incur taker fees.
A Stop Is a Trigger, Not a Guaranteed Price
A stop can submit a market or limit order after its trigger. In gaps or sharp moves, a stop-market order can slip while a stop-limit order may not fill. Verify trigger, order type and size.
