An order to buy or sell that becomes a market order if and when the specified price is reached.
An order that may be executed only if the market reaches a specified point. (NOTE: Not all exchanges accept MIT orders.)
they are the opposite of stop orders. Buy MIT’s are placed below the market and sell MIT’s are placed above the market. It is usually used to enter the market or initiate a trade. It becomes a market order once the limit price is touched or passed through. An execution may be at, above or below the originally specified price.
or MIT: A term usually used by chartists. It is an instruction to buy or sell at market if a certain level above or below the current price is reached.
Is an order that becomes market action when a price is hit. Buy Market if Touched orders are activated when the market price declines to the stated level. Then the broker is authorized to buy to satisfy the quantity. This is different than a limit order where all the quantity must be executed at the stated price or better.
An order with the floor broker which becomes a market order if a trigger price is reached.
An order that becomes a market order when a particular price is reached. A sell MIT is placed above the market; a buy MIT is placed below the market. Also referred to as a Board Order.
Resting order with the floor broker that becomes a market order to be executed if the trigger price is traded.
Market If Touched ("MIT") is a stock purchasing term.