Market if touched (MIT) - Financial definition
Financial acronyms
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Concise definition of the term market if touched
A market-if-touched order is an order that becomes a market order when the security falls to (buy order) or rises to (sell order) the specified price. to buy (or sell) an instrument below (or above) the market. Its purpose is to take advantage of sudden or unexpected changes in share or other prices and provides investors with a trigger price to set an order in motion.
Comprehensive definition of the term market if touched
The purpose of MIT orders is to take advantage of sudden or unexpected price movements.