How do I set sell order at higher than current price on TSX with Questrade?

[jsherk]

Hi

I am new to stocks and have a Questrade account, and one of the things I am confused about, is how to setup a stock SELL order at a price that is higher than the current price.

For example, stock ABC.TO is currently trading at $4.95 and I want to put in a sell order for when it reaches $5.00.

From some other reading I have been doing, if you use a Stop Limit order on the TSX both the stop and the limit need to be the same. Is that correct?

The options I have on Questrade for sell orders are:
Market
Limit
Stop
Stop Limit
VTSO

I know that I do NOT want to use a Market order as that will just sell at whatever price is current.

Can somebody explain when I would use the other types of orders and what the advantages and disadvantages are. If possible please include both a scenario when I want to sell if the stock price drops to a certain price, and also if I want to sell at a stock price higher than the current price.

Thanks