Newbie Fund transaction question

[Digs]

OK I have never purchased a fund before only stocks.

Just place an order to buy a fund, but there is no bid or ask, it seams trade is done at market close.

So what price do I get ?
Are all orders market orders ?
Can I use stop orders to protect my capital ?

Ok I am very green on the transaction process ...

 

[hoodooman]

Look on big charts. You get the price at the market close. There is no bid ask.

Some rydex fund, you can buy or sell twice a day. But the majority don't.