A stop limit order is the practive of selling or buying an instrument when the asset price has reached the target. This allows investors increase of an instrument’s value into profit.
A stop order (also referred to as a stop loss order) is an order to buy or sell an instrument once the price of the instrument reaches a specified price, known as the stop price. When the stop price is reached, a stop order becomes a market order.
A limit order is an order to buy or sell an instrument at a specific price. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is no guaranteed to execute.