A buy order is a specific instruction made by an individual to a broker to buy a security. If a trader expects the market price of a security to go up, he would enter the trade with a buy order, and exit the trade with a sell order. Conversely, if a trader expects the market price to go down, he would use a sell order to enter the trade, and square-up using a buy order. Traders have access to many different types of buy orders.
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