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Limit- when buying, you will pay no more than the amount you specify in 'price'. When selling, you will get no less than the amount you enter under price. If your limit is too far from the prevailing market price, your order may not get filled but in general, this is the one to use.

Market- You want the best available price so your order can get immediately filled (in general you shouldn't use this). If you use this you can end up paying a lot more than you expect. The advantage is that your order will definitely get filled.

Stop- Also called "stop-loss" only applies once you have the shares. If the stock price falls to this level, your shares will be sold at the best available price. The term arises from you wanting to "stop a loss" in case the price starts dropping (say to bad news) and you are not there to sell your shares.

Stop Limit- Similar to the stop-loss but in this case if the stock price falls, your order becomes a limit order to sell at your specified price.

It's simpler than it may sound at first. The only one with some controversy is the stop-loss. Some feel you should never use a stop loss as market makers can just drop the price of the stock, to take your shares. If your stop loss is too high, you shares can be sold just due to normal volatility. Others feel you should always have a stop loss. I've personally never used a stop-loss.
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