Learn a variety of trading order types, each with some unique characteristics.

Some order types, like take profit and stop loss can be combined.

Traders should be intimately familiar with the various types of orders before executing trades in order to avoid potentially catastrophic losses.

In general, traders should use limit orders in order to ensure that they are getting the prices and quantities that they want.

One size does not fit all and traders should consider their individual situations before deciding.  It is important that you understand how to choose the best order types for your trading strategy.