How is a market if touched order useful to me?

Modified on Thu, 05 Jan 2023 at 05:35 PM

A market if touched(MIT) order is typically used to buy when the price of a stock is falling or to sell when a stock is rising. This order can be considered an alternative to limit orders when fractional orders are desired. However, since the MIT order initiates as a market order if and when a specified price level is touched, there is no guarantee of the price at which it would be executed.

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