The orders below are available across the NYS Markets platforms (MetaTrader 5, Quantower, ATAS and DeepCharts). Use them to control entry, exit and risk.
Market: immediate execution at the best available price; risk of slippage in fast or thin markets.
Limit: fills at your chosen price or better; the market must reach it to fill.
Stop: becomes a market order when the stop price is hit; protects against losses but can slip.
Stop-limit: on trigger it places a limit order, controls slippage, but the fill is not guaranteed.
Trailing stop: automatically moves your stop as price moves in your favour, protecting profit.
OCO (One-Cancels-Other): links two orders; filling one cancels the other (take-profit + stop).
OSO (One-Sends-Other): filling the first order automatically sends a second (entry + auto management).
Never use a loss limit as a stop-loss. Slippage can carry a loss beyond your intended level, which on Futures and Stocks can reach the Max Loss EOD and breach the account.