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Marked If Touched-MIT Order
MIT order is similar to STOP order, but is not quite the same. MIT order is activated when a security reaches some determined price, like the STOP order, but in different direction.
When using a sell MIT order, broker will start selling securities only when the price rises to certain level, and vice-versa, when using a buy MIT order, broker will start buying the securities when price declines below certain level.
In contrast to buy MIT order, when using buy STOP order, broker will stop buying the securities when price exceeds some determined level.
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