What is the difference between stop and stop-limit orders?

In fact, the “stop order” is a stop market, and “stop-limit order” is the one where we can monitor possible slippage. Namely, a trigger in the first case is a market order, while in the second case the trigger is a limit.

In the case of stop-limit orders, stock market order matching mechanism will give the best price, but in the case of high volatility and illiquid instruments possible slippage will be limited. But in this case there is no guarantee of performance .. if the price quickly "slips" this order ..it simply can not be completed and it will stay in the dom waiting for its turn. Stop-limits are commonly used to enter the position, because it is possible to control the entry price.