The stability properties of the Hill equation are discussed, and especially those of the Mathieu equation that characterize ion motion in electrodynamic traps. The solutions of the Mathieu equation for a trapped ion are characterized by using the Floquet theory and Hill's Method solution, which yields an infinite system of linear and homogeneous equations whose coefficients are recursively determined. Stability is discussed for parameters $a$ and $q$ that are real. Characteristic curves are introduced naturally by the Sturm-Liouville problem for the well known even and odd Mathieu equations $ce_m(z,q)$ and $se_m(z,q)$. We illustrate the stability diagram for a combined (Paul and Penning) trap and represent the frontiers of the stability domains for axial and radial motion. In case of a Paul trap the stable solution corresponds to a superposition of harmonic motions. The problem of evaluating the maximum amplitudes of stable oscillations for the ideal conditions (taken into consideration) is also approached. Anharmonic corrections are discussed within the frame of the perturbation theory, while the frontiers of the modified stability domains are determined as a function of the chosen perturbation parameter. The results apply to 2D and 3D ion traps used for different applications in quantum engineering, among which optical clocks, quantum logic and quantum metrology, but not restricted only to these.