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Topic
Orders
16 guides in Finabase Learn
- Day Order An order that expires automatically at the end of the trading session if it has not been filled; the default at most brokers.
- Fill The execution of an order; a partial fill means only part of the requested quantity traded.
- Fill or kill (FOK) An order that must be executed immediately and in full, or cancelled entirely; no partial fills are allowed.
- Good 'til canceled (GTC) An order that stays open across sessions until it fills or the trader cancels it, subject to the broker's maximum duration.
- Limit order An order to buy at or below, or sell at or above, a stated price; it controls price but may not fill.
- Lot A quantity of shares bought at one time and price; a round lot is 100 shares, and tax lots track each purchase's cost basis.
- Market order An order to buy or sell immediately at the best available price; it guarantees execution but not the price.
- Odd lot An order or trade of fewer than 100 shares, smaller than a standard round lot.
- Order book The list of open buy and sell limit orders for a security at each price level, showing market depth.
- Practise with Finabase paper trading on the web Fund a $10,000 virtual account on finabase.io, place market and limit orders at live prices, follow positions and gains, and reset to start over.
- Round lot The standard trading unit for a security, traditionally 100 shares for US stocks; orders smaller than a round lot are odd lots.
- Slippage The difference between the price you expected when you placed an order and the price you actually got, caused by spreads, thin liquidity and fast markets.
- Stop-limit order An order that becomes a limit order once a trigger price trades, giving control over the fill price at the risk of not filling at all.
- Stop-loss order A standing order to sell (or buy back a short) once the price reaches a set level, used to cap the loss on a position without watching the screen.
- Take-profit order A limit order placed at a target price to close a winning position automatically, often paired with a stop-loss in a bracket order.
- Trailing stop A stop order whose trigger price follows a rising stock by a set dollar amount or percentage, locking in gains while staying in the trend.
Educational content, not investment advice. Finabase Learn explains how markets and tools work. It does not recommend any security or strategy, and examples are for illustration only. Investing involves risk, including the loss of principal. Rules and figures are for the United States unless stated and can change — check the cited source before you act.