A limit order is used when you want to specify an exact price at which your order will be filled. BUY LIMIT orders are placed below the current market price. SELL LIMIT orders are placed above the current market price.
A stop order is an order to buy or sell once the price reaches the specified price. When the specified price is reached, your stop order becomes a MARKET order. A stop order to sell is always placed below the current market price. BUY STOP order is entered at a stop price that is always above the current market price.
A stop order is an order to buy or sell once the price reaches the specified price. When the specified price is reached, your stop order becomes a MARKET order. A stop order to sell is always placed below the current market price. BUY STOP order is entered at a stop price that is always above the current market price.