Stop Orders and Stop Limit Orders

What this video covers

• How a Stop Order becomes a new Market Order when triggered, while a Stop Limit Order becomes a new Limit Order
• The two alternative triggers: a trade or a quote at the required stop price
• Why a trade on another Market Center or an off-exchange print can trigger the order
• Why a quote alone can trigger a stop order without an actual transaction
• Where untriggered stop orders rest: undisplayed in the Working Order File with no standing in any Order Process
• Why the stop price triggers a Market Order but does not limit its execution price
• Why a triggered Stop Limit Order can remain unfilled when the market moves away, and why the NYSE Arca equities rule does not define either order type