– Glossary

Contingency order

A type of order that specifies some parameters that must be met before an order is filled. For example, stock traders betting on a breakout may want to buy only if a stock trades above a certain level and would place a \"buy-stop\" order to get in immediately after the stock trades at a defined price. Options traders wanting to enter an options trade immediately may place a \"fill or kill\" order. This means the order is either executed at the specified price as soon as it hits the trading floor or it\'s immediately canceled. Another type is an \"all or none\" order, which is only filled if all of the contracts requested are received.

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