08.26.07
Order types.
When buying or selling securities, an order needs to be placed facilitate process. There are 4 ways this can be accomplished.
Good-Till: 3 types, good-till-(time,date,cancelled), means the order is valid until you either cancel or the time frame expires.
Limit: You place specify how much you are willing to sell or buy, remains in effect until period of time expires.
Market: Once your request hits the market, buy or sell at the current best price.
Stop: Only execute a buy or sell once the security surpasses a particular price point.