Stop order
An order activated when a specified price or other trigger condition is reached.
In more detail
A stop is the trigger, not necessarily the final execution price. A stop-market order then seeks available liquidity, while a stop-limit order adds a price restriction. Venues define triggers differently, and a fast market can mean the activation level and eventual fill differ substantially.
How you might use it
"The stop triggered at my chosen level. That wasn't a promise my stop-market order would fill at exactly that price."
- Also called
- Stop-loss order
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