Order Types

Different types of orders used in trading.

13 terms in this category

B

Bracket Order

A bracket order automatically places a stop loss and take profit order around an entry, creating a complete trade setup in one order.

C

Cover Order

A cover order is an intraday order with a mandatory stop loss attached, providing higher leverage in exchange for limited risk exposure.

F

Fill-or-Kill (FOK) Order

Fill-or-Kill (FOK) is an order type that must be executed in full immediately at the specified price or cancelled entirely — no partial fills permitted.

G

Good Till Date (GTD) Order Type

Good Till Date (GTD) is a time-in-force instruction that keeps a limit or stop order active until a trader-specified calendar date, then auto-cancels if unfilled.

GTT Order

Good Till Triggered (GTT) orders remain active until the trigger price is reached or the order expires, available on Indian brokers like Zerodha.

I

Iceberg Order

An iceberg order hides the total order size by displaying only a small visible portion, used by institutions to minimize market impact.

Immediate or Cancel (IOC) Order

Immediate or Cancel (IOC) is an order type that fills as much as possible at the specified price instantly, then cancels any remaining unfilled quantity.

L

Limit Order

A limit order executes only at a specified price or better, guaranteeing price but not execution if the market doesn't reach that level.

M

Market on Close (MOC) Order

Market on Close (MOC) order is a market order queued to execute at a security's official closing auction price, guaranteeing participation in the close but not a specific price.

Market Order

A market order executes immediately at the best available price, guaranteeing execution but not the exact price in fast-moving markets.

O

OCO Order

One-Cancels-Other (OCO) order pairs two orders where execution of one automatically cancels the other, used for stop loss and take profit combinations.

S

Stop Order

A stop order becomes a market order when price reaches a specified trigger level, used for entering breakouts or exiting losing positions.

Stop-Limit Order

A stop-limit order combines stop and limit features, triggering a limit order when the stop price is reached, offering price control but risking non-execution.