Orders to buy or sell a financial instrument in the future when certain conditions are met. They consist of limit orders and stop orders.
Buy Limit Order: A predefined price to buy in the future. This is lower than the current market price.
Sell Limit Order: A predefined price to sell in the future. This is higher than the current market price.
Buy Stop Order: A predefined price to buy in the future. This is higher than the current market price.
Sell Stop Order: A predefined price to sell in the future. The price is lower than the current market price.
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