Market order: A market order is an order to buy or sell at the best available price. Market order guarantees trade but not the price. A trader should consider placing a market order only when his primary concern is getting the trade done. A stock has both a bid price and an offer price. A trader buys at the offer and sells at the bid.
Limit order: Unlike a market order, a limit order is an order to buy or sell at a specified price or better. It guarantees a price but not the execution. If the priority is the price not the trade then a trader should place limit order.
Sell Stop / Stop Loss order: A stop order is an order to buy or sell when the price reaches the specified price. Like market order sell stop order guarantees the trade not the price. A trader specifies a price that will activate the order to sell, when the price drops to the specified price or slips below the specified price, the stop order to sell is triggered and becomes a market order executed on the next trade.
Buy Stop order: A stop order may be used as a buy order as well. In this case, a trader identifies a specific price that will trigger purchase from getting away from you as it breaks to new highs at a level that may indicate a potential new uptrend
Trailing Stop/Trailing Stop Limit Order: A trailing stop order is an order with a stop price that creates a moving or trailing activation price. In this order a percentage or price is specified. Trailing stop orders are used to maximize profit when the price rises and protect the losses when its price falls. A trailing stop limit order is similar to a trailing stop order. Instead of selling at market price when triggered, the order becomes a limit order.
GFD/GTD/GTC Order: A GFD (Good for Day) order is valid for the day only. A GTD (Good Till Date) order is valid till the end of the trading session of the specified date. A GTC (Good Till Cancel) order would remain in the system till the order is cancelled or the contract is expired. Sometimes some limit is specified for example 60 days.
IOC/FOK Orders: Immediate Or Cancel orders are immediately executed or cancelled. Partial fill is allowed. Fill or Kill Orders where either all orders are executed at the specified price or none. Partial Fills are not allowed.