Actually I don't know much at all about investing. I know what a stop loss order is, but I don't think I'd know how to use one effectively.
I'd just use market orders all the time except I'm a little freaked out about momentary (on the order of minutes) market freak-outs as happened a couple months ago. Limit orders priced at the current price (or 1 cent higher) is pretty much just my way of enforcing a sane market order.