6 IMPORTANT Trading Orders You need To Know!

28 juin 2023DO YOU KNOW THE 6 TRADING ORDERS?

There are many trading orders that a broker can offer.

You’ll just need to confirm on the platform or give them a call, which ones they have.
And it’s important to know which one suits your trading needs best.

Before you buy or sell a trade, there is usually a setting that you can choose to execute your trade.

Common options include:

1: GTC: “Good Till Cancelled”
Where the order remains active until you manually cancel it.

2: FOK: “Fill or Kill” (Settle!)
This type of order requires immediate execution of the entire order quantity.
If the full amount is not executed, it is then cancelled.

3: GTD: “Good Till Date”
Where you can specify a specific date until which the order is valid.

4: MIT: “Market if Touched”
This order is triggered when the market price reaches a specified level (trigger price).

It then becomes a market order and is executed at the best available price.

5: LIT: “Limit if Touched”
If a Limit if Touched order is triggered when the market price reaches a chosen or trigger price.

6: GTC (Good Till Cancelled).
This way you’ll know that your position (order) will stay in the market until you cancel it manually.