The order types pros use

Beyond market and limit orders, a trading desk works with a complete toolbox. Each order type answers an intention, and each intention leaves a footprint.

Why it matters to you

Each type leaves a footprint on the tape and the heatmap. Recognizing an iceberg or an IOC sweep changes how you read a level:

• A level that absorbs 2,000 contracts with 300 displayed: iceberg. The level is defended.
• Three levels swallowed in a fraction of a second then nothing: IOC sweep, someone took what was there. Watch for a follow-through.
• A huge closing volume on the last tick: MOC. It is not a directional signal for tomorrow, it is a rebalancing.