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