Chapter 7. Order Types and How to Use Them

Being properly familiar with order types and when to use them can make a profound impact on trading results. Market prices and dynamics are ever-changing, making every second count. Regardless of whether you trade online or through a broker, knowing the type of order you need to place and placing it accurately is vital.

Later in this chapter I discuss proper phone order etiquette when placing trades with a broker. Although it is true that an experienced full-service broker can typically translate the intent of his clients, it isn’t a good idea to leave anything to chance. Knowing exactly what you want and how to communicate your wishes are critical.

Order Types

If you have done your research, you have ...

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