Market order
Trading & ordersAn instruction to trade immediately at the best available price.
In plain terms
Guarantees you get filled. Guarantees nothing about the price.
1492 terms
Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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After market order
Trading & ordersAlso called: AMO
An order queued outside trading hours for the next session.
In plain terms
Placed as a market order it executes into the opening auction, often far from the last close.
SL-M
Trading & ordersStop-loss market order — on trigger it becomes a market order, guaranteeing exit but not price.
In plain terms
Gets you out for certain, at whatever price exists.
Call auction
Trading & ordersA mechanism that collects orders without matching, then executes them all at one price.
In plain terms
The mandi before the gates open. It is why a market order in the pre-open is far safer than one at 9:16.
Freak trade
Technical analysisA trade concluded far away from the prevailing price because an order exhausted a thin order book, leaving a long wick that is a real, settled print rather than a data error.
In plain terms
Nothing malfunctioned — a market order simply ran out of rungs to match against and took the last one it could reach. It triggers stops on the way past and stays in the price history for good.