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Trading Orders

QuestionAnswer
Sell limit @ 45 Placed above/below current market price? Triggered at? Executed at? Sell limit order Above Current market price Triggered & executed at 45 or higher
Buy limit @ 45 Placed above/below current market price? Triggered at? Executed at? Buy limit order Below current market price Triggered/executed at 45 or lower
Market orders guarantee a _____but not a ______ Fill; price
Buy stop @ 41 Placed above/below current market price? Triggered at? Executed at? Buy stop order = IS NOT A TRADE Above current market price Triggered @ 41 or higher Executed @ next available price
Sell stop @ 49 Placed above/below current market price? Triggered at? Executed at? Sell stop/stop loss order = IS NOT A TRADE Below current market price Triggered @ 49 or lower Executed @ next available price
Buy stop (limit) @ 50 (limit 50) Placed above/below current market price? Triggered at? Executed at? Buy Stop limit order Above current market price Triggered at 50 or higher Executed at 50 or lower (or not at all)
Sell stop (limit) @ 30 (limit 30) Placed above/below current market price? Triggered at? Executed at? Sell stop limit order Placed below current market price Triggered at 30 Executed at 30 or higher (or not at all)
SLoBS Sell limits and buy stops are placed ABOVE current market price
BLeSS Buy limits and sell stops are placed BELOW current market price
Day order Good for today only
GTC (Good Til Cancel) order Valid until cancelled last business day of April or October
At-The-Open (Market at Open) orders
Market-on-Close order Executed at or near as possible to closing market price
Not Held (NH) orders Floor broker/dealer not held to specific time or price. Cannot be placed with DMM (specialist)
Fill-or-Kill orders Fill entire order immediately at limit price or better. No partial
Immediate-or-Cancel order Fill order immediately at limit price, partial ok. Portion not executed is cancelled.
All-or-None (AON) order Executed in entirety or not at all. Can be day or GTC order-not immediate
Alternative orders (OCO) 2 orders placed, first one to execute cancels the other
Sell limit - client wants to buy or sell? At that price or higher or lower? Client wants to sell @ that price or HIGHER
Buy stop - client wants to buy or sell? At that price or higher or lower? Client wants to buy @ that price or HIGHER (trigger only)
Sell stop - client wants to buy or sell? At that price or higher or lower? Client wants to sell @ that price or LOWER (trigger only)
Buy limit - client wants to buy or sell? At that price or higher or lower? Wants to buy. At that price or lower
Created by: Lizherman
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