There are many types of stop orders, but they all require a price that is not yet available in the market when the order is issued. A stop order is triggered when a future price is available, but the broker executes it differently depending on its type. Brokers include the phrase "stop on quote" in their order types to emphasize that stop orders will only be activated if a genuine quoted price is met. A standard stop order will be converted into a typical market order when it is hit or surpassed. Stop orders can also be used as entry orders. In order to establish a position when the price of a stock is increasing, you may place a stop market order above the current market price, which becomes a normal market order once your stop price is met.