Market Order vs Limit Order
Plain English
Market order: Buy/sell immediately at current price - you get instant execution but price isn’t guaranteed. Limit order: You set your desired price and wait - you might not get filled, but you control the price. Like shopping: market order is "I’ll pay whatever it costs," limit order is "I’ll only pay this specific price."
Technical
Market orders execute immediately at best available price, guaranteeing fill but not price. Acceptable for liquid markets with tight spreads. Limit orders specify exact price, only executing when market reaches that level. Provide price certainty but no execution guarantee. On-chain limit orders (Solana DEXs) persist until filled or cancelled. Advanced: stop-loss, stop-limit, iceberg orders.