A market order is a buy or sell order to be executed immediately at current market price. As long as there are willing sellers and buyers, market orders will be filled. Market orders are therefore used when certainty of execution is a priority over price of execution. This is the simplest order type, and does not allow any control over the price received. The order is filled at the best price available at the relevant time. In fast-moving markets, the price paid or received may be quite different from the last price quoted before the order was entered.
A limit order is an order to buy at no more than a specific price, or to sell at no less than a specific price. This gives the trader control over the price at which the trade is executed; however, the order may never be executed. Limit orders are used when the trader wishes to control price rather than certainty of execution.
A stop order, also known as stop-loss order or loss-cut order, is used when you are unable to watch over your trading for a period of time, and want to prevent loss when the market moves against you (i.e. selling price goes too low or buying price goes too high), hence the name. The stop order is the opposite of the limit order, which you use to protect your gain.
TRAILING STOP ORDER
A trailing stop order is more flexible than all types above. Basically, instead of setting a "stop" or a limit price, you set a certain amount or percentage that market price is allowed to move up or down before the order is triggered.
TWAP stands for Time-Weighted Average price, the average price over the course of a specified period of time. You can set this period of time and the amount of quote currency you want to use for this order.