[Morb]

A stop order means "stop loss." It means you'll sell if the stock falls below a certain price (or in the case of a short sale, you'll cover if it goes above a certain price). There are many arguments for and against stop loss orders -- on one hand, if your stock craters, a stop loss order can get you out before it gets bad. On the other hand, typical price fluctuations throughout the day could cause you to drop a stock when you don't really want to. Personally, I only use stop loss orders for short term, high risk investments.

A limit order is basically the opposite of a stop loss. For buy orders you specify a lower price than the current, and for short sales you specify a higher price. For example, "buy 100 shares of Google if the price falls to 650" (or "sell [short] 100 shares of Google if it reaches $750").

Both types of orders change into market orders at that price, so the price isn't necessarily guaranteed to be the one you specify.

Anyway, thanks for setting this up. In rl I avoid super high risk stocks like the plague, and I very rarely short anything, so this gives me an opportunity to play around. I'm "DalerMehndi" btw.