The Trading Glossary

Battle Plan

A set of pre-mapped trade scenarios created the night before trading begins. This is your roadmap for the day. It outlines specific zones where you're interested in engaging price—long or short—if the market behaves according to plan. No guessing, no improvising. Just execute the plan.

Bull/Bear Line

A specific "line in the sand" that determines market control. Above this line? Bulls are in charge—look for longs. Below it? Bears control—look for shorts. This line keeps you on the right side of the market.

Close the DOM

A discipline technique where you physically close the trading platform after a win or loss. This creates "space between impulse and action" and prevents emotional trading. Step away. Breathe. Come back with a clear head.

Cost of Doing Business

The mindset that stop losses aren't failures—they're simply the "insurance" premium required to run a trading business. You're going to have losses. Accept it. The goal is to stay alive to trade another day.

Cotton Entry

An aggressive entry that doesn't have the standard "two-candle clearance" confirmation. It's riskier and requires you to be confident you're with the trend. Sometimes you've got to be quick. Just know what you're doing.

Gift of Break-Even

When a trade moves in your favor enough to move the stop to your entry price, eliminating risk. Take this gift! Don't hold onto a struggling trade. If you get the gift of break-even, accept it and protect yourself.

Green Over Greed

A psychological rule reminding you to lock in a profitable ("green") day and walk away rather than risking those profits by overtrading. Made your money? Great. Don't give it back. Close the platform and enjoy your day.

Lotto Runner

A "risk-free" contract held after initial profits are locked in. Your stop is moved to break-even (or slightly profitable), allowing you to potentially capture a massive move—100+ points—with zero risk. This is how you catch those monster winners! Depending on your account, you will trail you stop behind structure and/or our Strong Levels.

No Level, No Trade

The foundational mantra of the system. You MUST wait for price to reach a pre-determined, "clean, clear, crisp" level before entering. No chasing random price action. No FOMO trades. If there's no level? There's no trade. Simple as that.

Paper Cut Stop

A very tight stop loss used in aggressive or high-volatility scenarios (like news events) to minimize risk to a tiny amount if the trade doesn't work immediately. If it's not working right away? Get out. Paper cut, not a knife wound.

Red Folder Events

High-impact economic news releases—CPI, NFP, FOMC—marked by a red folder on the economic calendar. Trading is typically avoided immediately during these releases. The volatility is extreme. Step aside and let the dust settle.

Snappy Ladder Back

A specific entry trigger where price reclaims a level (like a Strong Level or Trend Line) with momentum and a "fair value gapping" candle. This indicates a strong rejection of the lower/higher price. When you see this? That's part of our entry criteria.

Speculator Special

A specific, often higher-risk counter-trend trade setup mapped out in the Battle Plan. Think catching a falling knife at a specific strong range. High risk, high reward. Not for the faint of heart!

Strong Levels

Proprietary weekly support and resistance levels used to identify areas for "touch and go" trades or reclaims. These levels act like magnets for price. When price approaches a Strong Level, something's about to happen. Be ready.

Three Contract System

A leverage management strategy where you enter with multiple contracts—often three. Take profit on two of them at a specific target (like 10 points), and hold the third as a "runner" at break-even or or just behind break-even. This locks in profits while giving you a chance at the big score.

Trade Card (Punches)

A discipline tool where you limit yourself to a specific number of trades per day—often three punches. Once your card is "punched" three times, trading must cease regardless of the result. This keeps you from overtrading and blowing up your account.

Trap the Trader

A market behavior, often occurring during news events or OPEX (Option Expiration), where price whipsaws to trap retail traders on the wrong side before moving in the real direction. Don't be the one getting trapped. Wait for clarity.

Vomit Mode / Blood on the Chart

Slang for high-volatility, irrational price action characterized by large candles—often 15+ points or more. The instruction during these times? Stand down. Don't trade. Let the chaos settle. Protect your capital.

Warning Shot

A price move that signals a potential shift in momentum. For example, a dip into single prints warns bulls that support is weakening. When you see a warning shot? Pay attention. The market is telling you something.

Acceptance

Acceptance occurs when price spends time and volume at a level, signaling agreement between buyers and sellers. In Market Profile terms, acceptance means the auction is comfortable at that price and is not in a hurry to leave it. Markets that find acceptance tend to balance or rotate.

Break of Structure (BOS)

When price breaks through a significant swing high or swing low. This confirms the current trend is continuing. Bullish BOS? Look for longs. Bearish BOS? Look for shorts.

Change of Character (ChoCh)

When price fails to make a new high in an uptrend (or new low in a downtrend). This is your first hint that momentum is shifting. It's not a full reversal yet, but something's changing. Stay alert.

Excess High

An excess high forms when aggressive buyers are met with strong selling, creating a sharp rejection at the top of a move. This often appears as multiple tails or single prints and signals a potential auction completion at the high.

Excess Low

An excess low forms when aggressive sellers are rejected by strong buying. It represents a clear auction response where price explored lower and was firmly rejected, often marking a temporary or structural low.

Fair Value Gap (FVG)

A gap in price where there's an imbalance between buyers and sellers. Think of it as a zone price blew through so fast that it left a "hole" on the chart. Price often comes back to fill these gaps later. Picture an obsessive compulsive person that can't allow cabinets to stay open or books to not be perfectly vertical in the bookcase. Price is also obsessive compulsive and wants to feel all gaps and voids.

Specifically Fair Value Gap (FVG) is a specific three-candle structure that signals a price imbalance or a "lack of liquidity." It occurs when price moves so aggressively in one direction that it leaves behind a hole in the price action where buyers and sellers did not have a chance to trade efficiently.

FVGing candles can help you understand the "STRENGTH OF THE MOVE" which I discuss daily on Zoom while teaching you to read Price Action. The chart below is an introduction to that topic.

Higher High/Lower Low

Simple: Higher High means price made a new peak above the last one (bullish). Lower Low means price made a new valley below the last one (bearish). This is structure 101.

Initiating Activity

Initiating activity refers to aggressive buyers or sellers entering the market to push price away from value. These traders are not fading price — they are pressing it. Initiating activity is often what drives range expansion and trend days.

Liquidation Break

A fast directional move driven primarily by forced exits (stops and margin liquidations) rather than new initiative buying or selling. In Market Profile terms, it typically shows rapid range extension with thin structure and little two-way trade. These moves often retrace once liquidation pressure is exhausted unless price finds acceptance and follow-through afterward.

Liquidity Void

A price zone with very little trading activity. Price moves through these areas FAST because there's nothing to slow it down. No support, no resistance, just empty space. When you're in a liquidity void, buckle up!

Market Structure Shift

The moment when price changes character—from making higher highs to lower lows, or vice versa. This is your early warning system that the trend might be reversing. Pay attention!

One Time Framing (OTF)

One Time Framing occurs when the market makes consistent higher lows (OTF up) or lower highs (OTF down). This signals directional control by a higher time frame participant and helps traders stay aligned with trend strength.

Rejection

Rejection is the opposite of acceptance. It occurs when price is quickly pushed away from a level, often leaving tails or single prints behind. Rejection tells you the auction explored a price and immediately found it unfair.

Responsive Activity

Responsive activity occurs when traders fade price as it moves away from value. Responsive buyers step in below value, and responsive sellers step in above value. This behavior keeps the market balanced and rotational.

Short Covering

A rapid upward move caused by short sellers exiting positions. Don't short short covering! These rallies can be explosive and violent. Let them run out of steam before considering shorts.

Swing High/Swing Low

A peak or valley in price with lower highs/higher lows on either side. These are your anchors for market structure. Break a swing high? Bullish. Break a swing low? Bearish. Draw these on your chart!

Anchored VWAP

VWAP calculated from a specific starting point you choose—like a major high, low, or news event. This gives you a custom average price from that moment forward. Super useful for tracking institutional positioning.

Cumulative Delta

Delta volume added up over time. This shows you the running total of buying vs. selling pressure. Divergences between price and cumulative delta? Now we're talking. That's where edges hide.

Delta Volume

The difference between buying volume and selling volume. Positive delta? More buyers. Negative delta? More sellers. Simple math that tells you who's in control.

Double Distribution

A double distribution profile shows two distinct areas of acceptance separated by a low-volume zone. This structure often forms when the market transitions from balance to trend, pauses, and then finds new acceptance at a different price level.

High Volume Node (HVN)

A price level where tons of volume traded. This creates strong support or resistance because lots of traders have positions there. Price tends to consolidate at HVNs.

Initial Balance

The range set during the first hour of RTH (Regular Trading Hours). This gives you the framework for the day. Extensions beyond this range? That's where the real moves happen.

Low Volume Node (LVN)

A price level with very little volume. Price moves FAST through these zones because there's no one to fight against. These are your express lanes in the market.

Point of Control (POC)

The price level with the MOST volume traded during the session. This is the fairest price—where buyers and sellers agreed the most. Price gravitates back to POC like a magnet. Respect it.

Range Extension

When price breaks out of the Initial Balance and keeps running. This is what we're hunting for! A proper range extension means conviction and follow-through. That's when the points pile up.

Single Prints

A Market Profile term referring to a vertical area of price movement with very little volume or friction. Price should move through these areas easily—"easy move through them"—or come back to "fill" them. No resistance, no support, just empty space.

Value Area High (VAH)

The upper boundary where 70% of the day's volume traded. Think of this as the "expensive zone." Price above VAH means we're in premium territory. Sellers often show up here.

Value Area Low (VAL)

The lower boundary of that same 70% volume zone. This is the "discount zone." Buyers typically step in here. When price dips to VAL, smart money is often accumulating.

Volume Profile

A histogram showing how much volume traded at each price level. High volume = agreement on fair value. Low volume = price just passed through. This tool shows you WHERE the action happened, not just WHEN.

Volume Weighted Average Price (VWAP)

The average price weighted by volume. Institutions use this to measure their execution quality. Above VWAP = bullish. Below VWAP = bearish. It resets every day at the open.

VPOC (Virgin Point of Control)

A level where the most volume was traded on a previous day, but price hasn't revisited it yet. If price doesn't come back to test the POC before the session ends, it becomes a "VPOC" and acts as a future magnet. Price wants to fill these.

Absorption

When large volume hits the market at a price level but price doesn't move. Someone's absorbing all that pressure. This often precedes a reversal. If price can't break through despite volume? Someone big is defending that level.

Bid/Ask Spread

The difference between the highest price a buyer will pay (bid) and the lowest price a seller will accept (ask). For ES it's usually 1 tick (0.25 points). Wider spreads = less liquidity.

Buy-Side Liquidity

Stop losses from shorts and buy-stop orders sitting above resistance. This is fuel for upside moves. Market makers love to grab this liquidity.

Exhaustion

When a move runs out of steam. You'll see slowing momentum, smaller candles, increasing volume but no follow-through. The buyers (or sellers) are tapped out. Time to look for reversal setups.

Footprint Chart

A chart type that shows volume broken down into bids and asks at each price level within each candle. This is order flow visualization. You can see exactly where the buying and selling happened inside the bar.

Iceberg Order

A large order that only shows a small portion at a time. When that portion fills, more appears. Big players use these to hide their true size. If you see constant refreshing at a level? Iceberg.

Imbalance

When there's significantly more buying than selling (or vice versa) at a price level. This creates pressure. Persistent imbalance in one direction? Price is likely to move that way.

Ladder Trading

Trading using a DOM (Depth of Market) ladder that shows price levels vertically with orders stacked on each level. Fast traders use this to enter and exit with one click at specific prices.

Level 2 Data

Real-time order book data showing all bid and ask orders. For futures traders, this is standard. You see who's waiting to buy and sell at each price. Critical for scalping.

Liquidity Pool

A cluster of stop losses and pending orders sitting above resistance or below support. Smart money hunts these pools. When you see obvious stops, expect price to grab them before reversing.

Market Depth

Shows all the bids and asks waiting at different price levels. Also called the "order book." Deep markets have lots of orders. Thin markets? Watch out. One big order can move price dramatically.

Order Flow

The real-time stream of buy and sell orders hitting the market. Reading order flow is like watching the market's heartbeat. You see aggression, hesitation, absorption—everything happening NOW.

Sell-Side Liquidity

Stop losses from longs and sell-stop orders sitting below support. Fuel for downside moves. Watch for sweeps of this liquidity followed by reversals.

Spoofing

Placing large fake orders to trick other traders, then canceling before they fill. This is illegal but still happens. If you see huge size appear and disappear repeatedly? That's spoofing. Don't chase it.

Time and Sales

The "tape"—a running list of every trade that prints, showing price, size, and whether it was a buy or sell. Old-school traders live and die by the tape. It never lies.

52-Week High/Low

The highest/lowest price in the past year. Institutional traders care about these levels. Breaking them signals major shifts. Watching them? That's playing chess against the smart money.

All-Time High (ATH)

The highest price ever. No resistance above here—uncharted territory. Price can run HARD at ATH. But also? Profit-taking can slam it back down. Respect the significance.

Asian Session Range

The trading range during Asian market hours (roughly 6:00 PM to 3:00 AM ET). Typically quieter, but the range matters. Many strategies involve trading the breakout from this range during London or New York.

Globex Session

The electronic trading session that runs outside Regular Trading Hours. Basically, everything outside of 9:30 AM to 4:00 PM ET. Lower volume, but still tradable—and sometimes that's where the best setups develop overnight.

London Session

Opens at 3:00 AM ET. This is when European traders wake up and volume picks up. You'll often see the overnight range get tested or broken during London hours.

Monthly High/Low

Same concept, bigger timeframe. These carry weight. Breaking a monthly high in the first week? Bullish. Testing monthly lows at month's end? Often reversal setups.

Monthly Settlement

Settlement on the last trading day of the month. Similar to weekly settlement but even more significant for institutions balancing monthly portfolios.

New York Open

9:30 AM ET. Game time! This is when the real volume enters. The first 30 minutes can be wild. Some traders wait for this chaos to settle. Others dive right in. Know your style.

Opening Price

The opening price level that acts as a major pivot for price action. Losing or reclaiming this level is significant for determining market control. Bulls above, bears below. Watch this level closely.

Opening Range

The high and low established in the first 30-60 minutes of the regular trading session. Many traders build their entire day around this range. Break above or below it, and you've got momentum. Stay inside it? Choppy mess incoming.

Overnight Range

The high and low established during the Globex session before RTH opens. Breaking out of this range during RTH? That's often your first trade opportunity of the day.

Previous Day High (PDH)

Yesterday's highest price point. This level matters because traders remember it. Price often respects PDH as resistance. Break above it? That's bullish. Reject from it? That's your signal to watch for shorts.

Previous Day Low (PDL)

Yesterday's lowest price. Same concept as PDH but flipped. This acts as support. Break below? Bearish. Bounce off it? Time to look for longs. Simple as that.

RTH (Regular Trading Hours)

9:30 AM to 4:00 PM Eastern Time. This is when the big money is active. Higher volume, tighter spreads, more reliable price action. Most day traders focus exclusively on RTH.

Settlement Price

The official closing price used for margin calculations. For ES/MES, settlement happens at 4:00 PM ET. This price determines your end-of-day P&L.

Weekly High/Low

The highest and lowest prices from the current week. Fresh at Monday's open, these levels grow in importance as the week progresses. Friday's tests of these levels? Always interesting.

Weekly Settlement

The settlement price on Friday that determines weekly options expiration. Big money cares about this. You'll sometimes see price gravitate toward major strike prices into the close.

Equilibrium

The middle ground—fair value where price is balanced. Often the POC or VWAP. Price oscillates around equilibrium. Expect consolidation here.

Institutional Reference Point

Price levels where big money has interest—major round numbers, previous day highs/lows, weekly levels. Institutions anchor to these levels for their execution. You should too.

Premium/Discount Zone

Premium: price above fair value (expensive—look for shorts). Discount: price below fair value (cheap—look for longs). Think of it as shopping: buy discount, sell premium.

Supply/Demand Zone

Areas where significant buying (demand) or selling (supply) occurred previously. Price returning to these zones often reacts. Similar to support/resistance but zone-based, not exact levels.

Support/Resistance

Support: a floor where buying interest emerges. Resistance: a ceiling where selling pressure shows up. These levels are self-fulfilling—traders watch them, so they matter.

Breakout Trading

Entering when price breaks through a defined level—support, resistance, or a range. The key? Confirmation. False breakouts are common. Wait for follow-through before committing.

Day Trading

Opening and closing all positions within the same trading day. No overnight risk. You start each day flat. This is where most ES/MES traders live.

Fading

Trading against the current move, betting on a reversal. Fading an overbought rally or oversold selloff. Risky but profitable at exhaustion points. Timing is everything.

Failed Auction

When price tries to auction higher or lower but fails to attract buyers/sellers. It reverses quickly back into range. These failures create excellent counter-trend setups.

Mean Reversion

The idea that price returns to average after extreme moves. When price stretches too far from VWAP or a moving average, mean reversion traders bet on the snapback. Works great in ranges.

Scalping

Quick in, quick out. Targeting small profits (5-20 points) many times per day. High win rate, tight stops, fast decisions. Not for everyone, but profitable for those with discipline and speed.

Swing Trading

Holding positions for days or weeks to capture larger moves. Less screen time, bigger targets, overnight risk. Different game than day trading—requires patience and wider stops.

Three-Drive Pattern

Three pushes in the same direction with diminishing momentum. Each drive is weaker than the last. The third drive? That's often your reversal setup. Classic exhaustion pattern.

Trap Pattern (Bull Trap/Bear Trap)

A fake breakout designed to trap traders on the wrong side. Bull trap: breaks resistance, sucks in longs, then reverses hard. Bear trap: opposite. Don't be the one getting trapped!

Trend Following

Trading in the direction of the prevailing trend. Higher highs? Look for longs. Lower lows? Look for shorts. Let the trend do the work. Don't fight it.

Breakeven

Moving your stop to your entry price once the trade moves in your favor. You're now risk-free! This is a psychological win. Mr. Break Even CAN save the day!

Daily Loss Limit

The maximum amount you'll allow yourself to lose in a single day. Hit this limit? You're done. Close the platform. Walk away. Come back tomorrow with a clear head.

Margin Requirement

The minimum account balance required to hold a futures position. ES requires more margin than MES. Make sure you have enough cushion—don't trade on the edge of a margin call!

Maximum Drawdown

The largest peak-to-valley decline in your account. Every trader has drawdowns. The question is: can you survive yours? Set a max drawdown limit and STOP trading if you hit it.

Position Sizing

How many contracts you trade based on your account size and risk tolerance. Proper sizing keeps you alive. Risk too much? One bad day wrecks you. This is THE most important skill.

Risk-to-Reward Ratio (R:R)

How much you're risking versus how much you could make. A 1:3 R:R means you risk 10 points to make 30. Always know your R:R before entering. Hunt for favorable setups.

Scale In/Scale Out

Adding to (scaling in) or reducing (scaling out) your position as the trade develops. Our 3-Contract System is all about scaling out—taking profits at different levels while letting a runner work.

Stop Loss

Your "uncle point"—the price where you admit you were wrong and exit. ALWAYS use stops. Always. No stop = eventual account blow-up. Protect yourself first, profits second.

Take Profit

Your target—where you take money off the table. Having a plan for profits is just as important as stops. Don't get greedy. Hit your targets and move on to the next trade.

Trailing Stop

A stop loss that moves with price in your favor but never moves against you. As you make profits, the stop "trails" behind, locking in gains while giving the trade room to run.

ATR (Average True Range)

Measures volatility—how much price moves on average. High ATR = big moves. Low ATR = choppy range. Use ATR to size your stops appropriately for current market conditions.

Bollinger Bands

Price channels that expand and contract based on volatility. When bands squeeze tight, a big move is coming. Prices touching the outer bands can signal exhaustion—but can also signal strength.

Exponential Moving Average (EMA)

Like a regular MA but gives more weight to recent prices. Reacts faster to changes. Popular EMAs: 9, 21, 50, 200. Many traders use multiple EMAs to identify trend direction.

MACD (Moving Average Convergence Divergence)

Shows the relationship between two moving averages. When the lines cross, it signals potential momentum shifts. Divergences between MACD and price? That's where the magic happens.

Moving Average (MA)

The average price over a specific number of periods. Smooths out noise and shows you the trend. Price above the MA? Bullish bias. Below? Bearish bias. Simple but effective.

Relative Strength Index (RSI)

Measures whether something is overbought (above 70) or oversold (below 30). Useful for spotting divergences and potential reversals. But remember: markets can stay overbought or oversold FOREVER.

Standard Deviation

Measures how spread out prices are from the average. In trading, it helps define value areas and measure volatility. Higher deviation = more uncertainty and bigger swings.

Stochastic Oscillator

Another overbought/oversold indicator. Compares current price to its range over time. Works best in ranging markets. In strong trends? It'll stay pinned at extremes and frustrate you.

Basis

The difference between the futures price and the cash index (SPX). This spread fluctuates based on interest rates, dividends, and time to expiration. Usually minor but worth knowing.

Contango/Backwardation

Contango: future months priced higher than current (normal for ES). Backwardation: future months priced lower (less common). This affects rollover costs and spread trades.

Contract Multiplier

How much each point is worth. ES = $50 per point. MES = $5 per point. So a 10-point move on one ES contract = $500. Same 10-point move on MES = $50. Do the math before trading!

Expiration

The last day a contract trades before it settles. For ES/MES, this is the third Friday of March, June, September, and December. After expiration, that contract is done. You MUST roll or close beforehand.

Front Month Contract

The nearest expiring contract—usually the most liquid. Most traders exclusively trade the front month. Higher volume, tighter spreads, better fills. Stay where the action is.

Mark-to-Market

Your positions are valued at current market prices at the end of each day. Gains and losses are realized daily, affecting your margin requirements. Unlike stocks, futures settle daily.

OPEX (Option Expiration)

Occurs on Fridays and is typically associated with "whipsaw" price action, lack of trend, and price pinning. It's considered a dangerous day to chase trades. Know when OPEX is happening and adjust your expectations accordingly.

Together We Trade Better!

Rollover

When you close your current contract month and open the next one. ES contracts expire quarterly. Most traders roll a week or two before expiration to maintain liquidity in the front month.

Tick Size

The minimum price increment. For ES and MES, it's 0.25 points. You can't buy at 6000.13—only 6000.00, 6000.25, 6000.50, or 6000.75. Four ticks = 1 full point.

Correlation

How different markets move together. ES and NQ usually correlate. Bonds and stocks? Often inverse. Understanding correlations helps you see the bigger picture and avoid surprises.

CPI (Consumer Price Index)

Measures inflation. Higher than expected CPI = potential rate hikes = market volatility. These reports drop monthly and can cause 50-100 point swings in minutes. Plan accordingly.

Economic Calendar

A schedule of upcoming economic data releases. CPI, NFP, GDP, retail sales—it's all there. Check it every morning. Don't get caught unaware when a major report drops.

Fed Funds Rate

The interest rate set by the Federal Reserve. This drives EVERYTHING. Rate hikes? Generally bearish for stocks. Rate cuts? Generally bullish. Watch Fed announcements like a hawk.

FOMC (Federal Open Market Committee)

The Fed committee that sets monetary policy. FOMC meeting days = volatility. The 2:00 PM announcement and press conference can swing ES 100+ points. Trade small or watch from the sidelines.

Market Sentiment

The overall mood of market participants—bullish, bearish, or neutral. Extreme sentiment often precedes reversals. When everyone's bullish? Be cautious. When everyone's bearish? Look for longs.

Non-Farm Payrolls (NFP)

The monthly jobs report released first Friday of each month. BIG market mover. Strong jobs = bullish economy. Weak jobs = concerns. Either way? Expect fireworks at 8:30 AM ET.

VIX (Volatility Index)

The "fear gauge"—measures expected volatility in the S&P 500. High VIX = fear = big moves. Low VIX = complacency = choppy. VIX above 20? Buckle up. Below 15? Yawn.

Commission

What you pay your broker per contract. Could be $0.50 to $2.50 per side depending on your broker and volume. Adds up fast if you're scalping. Know your costs!

Fill or Kill (FOK)

An order that must be filled immediately and completely, or it's canceled. All or nothing. Useful when you need a specific quantity instantly—common in scalping strategies.

Good Till Cancelled (GTC)

An order that stays active until you cancel it or it fills. Unlike day orders that expire at session close, GTC orders persist. Just don't forget about them!

Limit Order

An order to buy or sell at a specific price or better. You set your price and wait. You might not get filled if price doesn't reach your level. More control, but no guarantee.

Market Order

Buy or sell RIGHT NOW at whatever the current price is. Guaranteed fill but you accept whatever price you get. Fast but risky in fast markets—slippage happens.

Round Turn

One complete trade—entry AND exit. Brokers often quote commissions per round turn. So "$1.50 RT" means $0.75 to enter, $0.75 to exit. Calculate this into your profit targets.

Together We Trade Better!

Slippage

The difference between your expected price and actual fill price. Happens in fast markets or with large orders. Market orders have more slippage. Limit orders avoid it but risk no fill.

Stop Limit Order

Becomes a limit order when your stop is hit. Gives you more control than stop market, but risk of not getting filled if price blows through your level. Use carefully.

Stop Market Order

An order that becomes a market order once price hits your stop level. Used for stop losses. Downside? In fast markets, you might get filled well past your stop price.