Your Order Please: A Guide to the Different Ways to Buy and Sell Securities

by John Deysher

Once you've made up your mind about a stock, the rest is easy, right? Just call up your broker and say "buy" or "sell."

Unfortunately, it's not always that simple. There are multiple ways to give buy and sell instructions to a broker, and just as many ways to get burned if you mess up.

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Here is a rundown of the most common types of orders used by most stock exchanges and brokers. Some brokers, though—especially the on-line variety—may not accept every type of order, so check ahead of making your transaction.

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