Market vs Limit Orders

When you place a market order, it is executed as soon as possible at the best possible market price. The market price is determined by the prices that shares are being bought and sold at. As a result, the market price for a company’s shares can change often. Market orders tend to be executed quickly because there is likely to be a buyer, but the price can fluctuate between when an order is placed and when it is filled. Your market order to sell shares will execute immediately at the price that someone else is willing to buy at.

With limit orders, you can set the price that the trade executes at, which can give you more control over your sale. Your sell order will not execute unless this price limit is met. For example, a limit order to sell 1 share of XYZ Inc. for $50 will not execute unless someone else places an order to purchase 1 share of XYZ Inc. for $50 or greater. 
All orders expire at the end of the market day (4:00 PM EST).
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