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Limit
Order |
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An
order placed with a brokerage to buy or sell a security at a particular
price to close all or part of your position. Many brokers only
allow limit orders to be placed a set distance away from the current
market price. |
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Limit
orders are traditionally used to close a position once a security
trades at a target price, usually when the position is in profit. Limit orders can be used to close out all or only part of a position. |
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