We use a market order to open or close trades at the current market price. It’s important to remember that you can only place a market order when the market is open. By definition a market order will be placed three price steps above the best trade at the time the order is processed.
There are three expiry options when placing a trade: Day only, Good till cancelled, and a Selected date.
Limit orders are used to enter a trade at a specific price, above or below the current market price and within a set time period.
Stop loss orders allow you to specify a price at which an existing position will be closed out by the platform if the market moves against you.
There are three stop loss instruction to choose from; Limit Price, At Market, Trailing Stop Loss