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There are 4 orders:
Market Order.....you sell at the bid.
Limit Order....You will only sell at your specified limit. (No guarantee
of execution.
Stop Order....Once the price you designate as "Stop", it becomes
a market order.
Stop Limit...Once the price reaches your designated price, it becomes
a limit Order...you won't accept less. (No guarantee of execution.)
Claud
neo wrote:
> Would someone please further my understanding of market and limit stop
> orders?
>
> As I understand it, all limit orders must be filled within the bid/ask
> spread. With a stop market order, it seems that someone could just place a
> limit order and buy/sell one's stock well outside of the trading range. Is
> this true? If so, they would be useless.
>
> The problem with a limit stop order is that the price could be passed in a
> gap and not get filled.
>
> Thanks, neo
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