Types of Orders – Algorithmic Trading

1. Market Orders is executed promptly in the market at the best price available. Emphasis is on immediate execution and suffers from price uncertainty. 
2. Limit Orders is executed at the best price in the market only if it satisfies the limit price requirement. Emphasis is on price and suffers from execution uncertainty. 
3. Market not held order hands the discretion of executing the order in the hands of the broker. He is not required to trade it at any specified time interval or at any specified price. 
4. Market on open order is to be executed at the opening of the market. 
5. Market on close order is to be executed at the time of closing of the market. 
6. Stop Loss orders
7. Fill or Kill orders