Which Order Type Should You Use? Limit Orders vs. Market Orders

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Before you place a single trade, you need to know the difference between different stock orders. For example, should you use limit orders or market orders? You MUST know this. Watch now for key lessons and how the wrong order can wreck a trade!

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When it comes to the different types of orders, I have one simple rule…

And I want you to tune in to find out which order type I NEVER use.

The reason why is because it can help eliminate so much risk.

I’ll walk you through an example on Inspirato Inc. (NASDAQ: ISPO) to show you what I mean. Don’t miss this.

Plus, I’ll share with you which order types are best for trading penny stocks.

You’ll also learn how you can take advantage of uneducated traders who use the wrong order types and why using a stop order doesn’t guarantee you’ll exit a trade.

And discover why I like stop orders but not necessarily stop-loss orders. There’s an important difference. Check this out now!

Leave a comment below and say, “I will NOT use market orders.”

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Hey, it’s Tim Sykes, millionaire mentor and trader. Thank you for watching my videos. I hope that they help you. I want to share everything that I've learned over the years. You can check out more videos right over there, and also click ‘subscribe’ so that you can watch all of these videos, get that knowledge and become my next millionaire student.*

(All content on this website is intended for educational and informational purposes only.

The material on this website is not to be construed as (i) a recommendation to buy or sell stocks, (ii) investment advice, or (iii) a representation that the investments being discussed are suitable or appropriate for any person. No representation is being made that following the instructor’s strategies will guarantee a particular outcome or result in profits. The price and value of stocks may fluctuate depending upon various market factors, and, as such, the strategies used by the instructors to adjust for those fluctuations may change without notice.

There are significant risks associated with trading stocks and you must be aware of those risks, and willing to accept them, in order to invest in these markets. Past performance of any trading system or methodology is not indicative of future results. You should always conduct your own analysis before making investments.

You should not trade with money you cannot afford to lose and there is a risk that trading stocks will result in a complete loss of your investment. Trading stocks, particularly penny stocks, is not suitable for everyone and requires hard work, due diligence, capital, and substantial time to monitor the market and timely execute trades.)

[TimothySykesTrader]

Leave a comment below and say, “I will NOT use market orders.”

[calk]

Thank you. I will never use MARKET ORDER. Great advice. Thanks.

[frankdatankdegen]

I will never use market orders. OMG OMG Timothy why are not more people mentioning this why why why super important. I have watched tons of content your the 1st to say do not use market orders. WTF makes total sense everything you said and why I have taken more losses than I have wow wow wow.

[RobStone]

I will not use market orders. I have lost so much money using Market Orders when the BUY/ASK was ridiculous and hadn't noticed

[briankuhns]

this happened to me the other day. I've done market orders a ton of times and never thought twice about it but this time my order got executed at 5% above my expected price entry. I was planning a 5% swing... completely messed it up. Limit orders from here on out. This is good advice for sustainability long term.

[ronviejo]

A little help please. Just getting started with penny stocks and learning from the guru here. What's the BEST online trading platform to use and brokerage house if you live in Colombia? Any other advice for a senior beginner is welcome. THanks ahead of time to all that respond.

[DoriTOEcalper]

I will not use market orders!

Point in case, thank god I was trading in my paper sim, I lost $4400 on TOPS the other day. Executed a market buy at the open, profit target to sell at 25 pips. Close position at 25 pips MARKET. The DOM freezes on my platform. No alerts come across my screen that say "hard to borrow" or "halt". My 1000 share market order went through for what appears to be a $250 gain but it was filled at .10 cents! There was 2 mil volume and the 1second chart appeared to have the liquidity I needed to be filled for my target price. It could have been a glitch in the sim but it surely opened my eyse to how quickly it can go south. So here I am, rethinking my entire strategy about small caps and momentum trading. Any suggestions othan than limit orders to protect my position? Do limit orders not turn into market orders once they are executed? Thanks in advane Tim, love the channel and content.

[anitacherney]

Thanks, on top of using Limit orders I live in Canada I have to add about 25% for the exchange rate. Any advice would be helpful.

[njrkxsm]

So what’s the common way to buy VOO with a limit order ? Just a couple cents above the active price ?

[drizzle]

Basically if you’re wanting to get filled immediately still limit it to just a few cents above the ask price

[kirkbrown]

I will not use market order. Thanks Tim!

[vijaychouhan]

Hi,

Limit execute & eliminate – an order which executes as much of a trade as possible at a specified market price. If there aren’t enough shares available at the specified level to fill the order, the maximum possible number of shares are executed and the rest of the order is cancelled.

Limit day – an order which executes once the market price reaches a specified level. If it isn’t filled by the end of the trading day, the order will expire.

Which one of the above 2 types of orders out of limit orders are better?, thanks.

[isd]

I will NOT use market orders, thx to TS! I will use mental limit orders as well.

[Kimmai]

any best penny stocks for short term out there????

[nancysu]

Does anyone know where to buy Kim Sykes book, " dip & buy" method?

[uknowdavibez]

In think or swim when I put limit order it executes me like a market order anybody know why

[RahulSingh-fhxr]

Sir Feels Good But Heard so many others saying use stop loss now it’s
Like hard to Digest

[surfpanther]

I USE both.... depending on volume... mostly limit... markets work fine if the volume is however I will never sell with a market order

[abe]

Unless you trade with big size, market order vs limit order won't be much of a difference unless the spread is big. If it's a tight spread, market order is fine when it hits my entry and I'm watching the stock. Limit orders are good when the spread is big, when a stock is volatile and you have an entry point set in mind, or when you're not glued to the screen. Overall, there's a time and place for both. There are times when you'll miss plays because your limit didn't get filled, and there will be times you miss out on good entries because you market ordered and got a terrible fill.

[dee_F]

Lost a lot off money to market orders, I prefer limit orders it gives you control.