What are the types of Order? |
- Users have to select the buy or sell option while clicking on the particular scripts with Intraday or long-term options with order types like:-
- Market order - Also known as a normal order, this order is used to buy or sell a stock at the current market price
- Limit order - Users must select the quantity and price (in the case of limit order) for buying or selling scripts.
- SL (Stop loss) order - Similar to a limit order, a stop loss order will only execute when the stock is at or below the desired price for a buy order, or at or above the desired price for a sell order.
- SL-M (Stop loss with market price)- A stop loss is a broker-placed order to sell a stock when it reaches a specific price. This order is designed to limit an investor's losses on a security position
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- There are other varieties of orders like:-
- Regular market order:-Placed during regular market hours, which are usually between 9:15 AM and 3:30 PM in India. These orders are executed immediately during market hours
- AMO (Aftermarket order):-Placed after the market has closed for the day and before it opens for the next trading session. These orders are queued and processed later, at the opening of the next market session.
- Validity Day or IOC (immediate or Cancel order):-
- Day: - An order with day validity remains open until the end of the trading day or until it's executed. If the order isn't executed by the end of the day, it's automatically canceled.
- IOC: - An order with IOC validity is either executed immediately or canceled if it's not fulfilled. A partial match may be possible, and the unmatched portion of the order is canceled immediately.
- Good till date: - A Good Till Date (GTD) order is an order time condition wherein an order remains active till a pre-defined date.
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