Order Types for Automated Execution: Which Ones Actually Fit
Market, limit, stop, and stop-limit are the core order types, and choosing among them is a tradeoff between certainty of fill and certainty of price. Automation changes the calculus, because software cannot watch a resting order and improvise the way a human can. This explains each order type honestly, including the ways stops do not work the way people assume, and which fit automated execution.