Glossary · reference sheet · Markets
Order Types & Execution
Which order to send, when, and what it costs you.
Core orders
- MarketFill guaranteed, price not. Use only in liquid names during market hours.
- LimitPrice guaranteed, fill not. Default for thin names and patient entries.
- StopTriggers a market order at your level — can gap-fill beyond it.
- Stop-limitTrigger converts to limit — protects price, may never execute.
Costs
- SpreadBid−ask gap paid instantly on crossing. Round trip = 2× spread.
- SlippageExtra cost when size exceeds book depth.
- Thin-name ruleCheck spread + dollar volume before any order.
Timing
How to use this sheet
Read a row as a claim, not a fact: the term, what it means, and the condition that makes it matter. Each term has its own page, and the lessons it belongs to are linked from there.
Learn content is for education only — not individualized financial advice, a recommendation, or a solicitation to buy or sell any security. Options involve substantial risk. Examples are simplified and historical patterns never guarantee future results.