Order types: Market vs. Limit

Jorg AI supports two order types for both buy and sell orders.

Market orders:

Execute immediately at the best available price. Use market orders when you want to enter or exit a position quickly and the exact price is less important than speed of execution.

Limit orders:

Execute only at your specified price or better. A limit buy will only fill at or below your limit price. A limit sell will only fill at or above your limit price. Use limit orders when you want price control.

When to use each:

• Market orders: High-liquidity stocks (AAPL, MSFT), when timing matters more than a few cents
• Limit orders: Low-liquidity stocks, volatile markets, or when you have a specific entry/exit price in mind

Important: Market orders on thinly traded securities may fill at prices significantly different from the last traded price (this is called slippage). Limit orders protect against slippage but may not fill if the price never reaches your limit.