https://www.humbledtrader.com/blog/5-order-types-for-beginners
Limit Orders
If you have issues with the lack of control that comes with trading with market orders then definitely use Limit orders. It is indeed the most commonly used order type, at least by me. Almost all the order types I use are limit orders. I use them for buying, selling, shorting and covering. I pretty much only use market orders when I'm setting stops.
Stop Orders
Like its name suggests, stop orders are designed to buy or sell an asset when its price moves past a particular point to the cent.
Bracket order
This trade order is a conditional order that helps investors to have a profit target as well as a stop order automatically activated when they enter a new position long or short.
Trailing stop
A trailing stop is essentially a stop order on steroids. It’s an order type that traders often use to let their winners ride, as long as the trend continues to the upside if they’re long or to the downside if they are short.
Conclusion
These are some of the most common order types we use in trading. To summarize, for active day trading entries whether it's buy or sell, it's best to use limit orders. For stop orders that are meant to protect your position if the stock goes against your direction, it's best to use stop market orders.
