# Order Types

### This section contains: <a href="#this-section-contains" id="this-section-contains"></a>

1. [Market Order](#market-order)
2. [Limit Order](#limit-order)
3. [Stop-loss Limit Order](#stop-loss-limit-order)
4. [Stop-loss Market Order](#stop-loss-market-order)

### Market Order <a href="#market-order" id="market-order"></a>

A [**"Market Order"** ](https://support.geojit.com/support/solutions/articles/89000007679-what-is-a-market-order-)is an **Order Price Condition** used to executed at the best available *ask/bid price*. The Price at which a **Market Order** is executed

#### How to place a Market Order  <a href="#how-to-place-a-market-order" id="how-to-place-a-market-order"></a>

<figure><img src="/files/RPmRK4FRucDfyIh1ltcK" alt="" width="549"><figcaption></figcaption></figure>

To *place* a **Market Order,** follow these steps:

* Open the **"Order Placement" page** for the security you wish to Buy/Sell.
* Select **"Market"** as the Order Type.
* Choose/Enter the **"Exchange", "Quantity", "Product Type",** and **"Time Condition".**
* Click the **"Review Order" Button** to re-check your order details.
* After confirmation, click the **"Place Order" Button.**
* Your order will be sent to the **Exchange.**

**Please Note:** The price field will be disabled when placing a *Market Order.*

### Limit Order <a href="#limit-order" id="limit-order"></a>

A [**"Limit Order"**](https://support.geojit.com/support/solutions/articles/89000007684-what-is-a-limit-order-) is an **Order Price Condition** used to buy or sell a security at a *specific price or better.* For example, if you place a **Limit Order** to buy a security at 20 INR, your Order will only be executed at 20 INR or less. This type of Order allows you to specify the price at which you are willing to trade, which can be useful if you want to buy or sell a security at a certain price.

#### How to place Limit Order <a href="#how-to-place-limit-order" id="how-to-place-limit-order"></a>

<figure><img src="/files/E11WYHFZqSJbcNFwK5og" alt="" width="530"><figcaption></figcaption></figure>

To *place* a **Limit Order,** follow these steps:

* Open the **Order Placement Page** for the security you wish to buy or sell.
* Select **"Limit"** as the **Order Type.**
* Choose the **"Exchange"** and enter the desired **"Quantity".**
* Enter the **"Price"** the maximum price you want to pay for buy order, or the minimum price you want to receive for a sell order. This is the price at which your order will be executed, or better.
* Choose the **"Product Type"** and **"Time Condition".**
* Click the **"Review Order" Button** to re-check your order details.
* After confirmation, click the **"Place Order" Button**. Your order will be sent to the exchange and will remain pending until the **Limit Price Conditions** are met.
* Your order will be executed at the specified **Limit Price** or a better.

**Please Note:** A Limit Order may not be filled if the security's price does not reach the specific limit price.

### Stop-Loss Limit Order <a href="#stop-loss-limit-order" id="stop-loss-limit-order"></a>

A [**"Stop-loss Limit Order"**](https://support.geojit.com/support/solutions/articles/89000007772-what-is-a-stoploss-order-) is an **Order Price Condition** that helps investors limit losses on a Position, by buying a security as its price rises and hits a specified Trigger Price, or selling a security as its price declines and reaches a specified Trigger Price.

A **"Stop-loss Limit Order"** is placed with a **"Trigger Price"** and a **"Limit Price".** The **Limit Order** is activated when the Trigger Price is hit. The trade is executed only when the **Limit Price** is reached.

**Buy Order:** The *Limit Price* and *Trigger Price* must be above the Current Market Price.

**Sell Order:** The *Limit Price* and *Trigger Price* must be below the Current Market Price.

#### How to place Stop-Loss Limit Order <a href="#how-to-place-stop-loss-limit-order" id="how-to-place-stop-loss-limit-order"></a>

<figure><img src="/files/NhEk7b8dhlwrCQmBgHK9" alt="" width="509"><figcaption></figcaption></figure>

To *place* a **Stop-loss Limit Order**, follow these steps:

* Open the **Order Placement page** for the security you wish to buy or sell.
* Select **"SL-Lmt"** as the **Order Type.**
* Choose the **"Exchange"** and enter the desired **"Quantity".**
* Enter the **"Trigger Price":**
  * For **Buy Order,** the *Trigger Price* must be higher than the *Current Market Price* and lower than the desired *Limit Price.*
  * For **Sell Order,** the *Limit Price* must be lower than the *Current Market Price* and higher than the desired *Limit Price.*
* Enter the **"Limit Price":**
  * For **Buy Orders,** the *Limit Price* must be higher than the *Trigger Price.*
  * For **Sell Orders,** the *Limit Price* must be lower than the *Trigger Price.*
* Choose the **"Product Type"** and **"Time Condition".**
* Click the **"Review Order" Button** to re-check your Order details.
* After confirmation, click the **"Place Order" Button.** Your order will be sent to the exchange. When the **Trigger Price** is reached, the **Limit Order** will be activated.

**Please Note:** Once your order hits the Trigger Price, it will be executed at the available Market Price.

### Stop-Loss Market Order <a href="#stop-loss-market-order" id="stop-loss-market-order"></a>

A [**"Stop-loss Market Order"**](https://support.geojit.com/support/solutions/articles/89000007772-what-is-a-stoploss-order-) is an **Order Price Condition** that helps investors limit losses on a Position, by buying a security as its price rises and hits a specified Trigger Price, or selling a security as its price declines and reaches a specified Trigger Price.

A **"Stop-loss Market Order"** is placed with a Trigger Price. When the Market Price reaches the set Trigger Price, a **Market Order** is sent to the exchange (at the prevailing Market Price).

**Buy Order:** The *Trigger Price* must be above the Current Market Price.

**Sell Order:** The *Trigger Price* must be below the Current Market Price.

#### How to Place Stop-loss Market Order <a href="#how-to-place-stop-loss-market-order" id="how-to-place-stop-loss-market-order"></a>

To *place* a **Stop-loss Market Order,** follow these steps:

<figure><img src="/files/fDi3MVSknIeAc3oowDPP" alt="" width="529"><figcaption></figcaption></figure>

* Open the **Order Placement Page** for the security you wish to buy or sell.
* Select **"SL-Mkt"** as the **Order Type.**
* Choose the **"Exchange"** and enter the desired **"Quantity".**
* Enter the **"Trigger Price".**
  * For **Buy Order,** the *Trigger Price* must be higher than the Current Market Price.
  * For **Sell Order,** the *Limit Price* must be lower than the Current Market Price.
* Choose the **"Product Type"** and **"Time Condition".**
* Click the **"Review Order" Button** to re-check your Order Details.
* After confirmation, click the **"Place Order" Button.** Your order will be sent to the exchange. When the Trigger Price is reached, a Market Order will be activated.

**Please Note:** Once the Order is activated, it will be executed at the next or better Market Price.


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