White Shark offers two types of orders, market, and limit. The difference between the two is the speed and accuracy of your execution. Using a market order, your trade will buy or sell at current market value and will execute nearly instantly. With limit orders, you will have the accuracy of navigating trades at an exact price, but this won’t execute your trade until the market value of the instrument meets or beats the limit price.
- Market order
A market order is a request to buy or sell a security at the best available price in the current market. It is widely considered the fastest and most reliable way to enter or exit a trade and provides the most likely method of getting in or out of a trade quickly. Filling nearly instantaneously. The trade-off, however, is that market orders fill at a price dictated by the market, as opposed to limit or stop order, which provides a trader more control. Using market orders can sometimes lead to unintended, and in some cases, significant costs.
- Limit Order
A limit order is an order placed with a broker or exchange that allows you to execute a buy or sell transaction at a set number of shares and at a specified limit or instrument price. It is an order placed with a broker or exchange to buy or sell a set amount of a financial instrument at a specified price or better. Keep in mind that limit orders are not market orders, it may not be executed if the price set by the trader cannot be met during the period in which the orders are left open. Limit orders also allow an investor to limit the length of time an order can be outstanding before being canceled.