I recall being a stockbroker trainee who was confronted with new concepts and terminology. Then, most of the customers purchased individual stocks some bought bonds and a few purchased mutual funds. The types of orders a customer would give were linked to both his position in the stock market and the customer’s trading strategy and/or methodology. To the novice, these orders that sound simple can become complex and confusing when price and time qualifiers are added.
A person wanting to buy or sell a specified number of shares of a specific stock immediately regardless of price would simply enter a market order. Read more »