A market if touched (MIT) order is an instruction to place a buy or sell market order when the user-specified trigger price is hit.
An MIT order does not guarantee a specific execution price and may execute significantly away from its trigger price. An MIT order is similar to a stop order, except that a sell MIT order is placed above the current market price, and a sell stop order is placed below.
Clients need to follow the "buy low and sell high" rule when placing an MIT order. The buy trigger price needs to be lower than the current market price, and the sell trigger price needs to be higher than the current market price.
A sell MIT order is always placed above the current market price and is typically used to gain the profit on a long position.
A buy MIT order is always placed below the current market price and is typically used to gain the profit on a short position.
Assuming you short sold stock XYZ at 30, you submit a buy MIT order with a trigger price of 15 when the market price is 40. If XYZ's market price falls to 15 or lower, a buy market order will be submitted automatically to the clearing broker and filled at the market price.
Assuming stock XYZ has a current price of 10, you submit a sell MIT order with a trigger price of 15. If XYZ's market price rises to 15, a sell market order will be submitted automatically to the clearing broker and filled at the market price.
Clients can place MIT orders at any time via the moomoo app.
Clients can set an MIT order's time in force. If the order is not fully filled upon expiration, the unfilled portion will be cancelled automatically by the system.
If the order fails to be executed due to risk management or other reasons, the order status will become "failed" and the system will not continue to place the order.
If the trigger condition is met during the preset trading session, the MIT order will be triggered, and the system will automatically submit a preset order to the clearing broker.
The order will not be triggered if the trigger condition is met outside the preset trading session.
1. After an MIT order is triggered, it is not guaranteed to be submitted successfully. It may be rejected due to reasons such as insufficient buying power or positions.
2. After an MIT order is triggered, the system will place a market order automatically. However, the order is not guaranteed to be filled. If it is not filled upon expiration, it will be cancelled automatically by the system.
3. After an MIT order is triggered, the condition cannot be triggered again, regardless of whether the order is filled or remains unfilled. You will need to place a new order.
4. After an MIT order is triggered, the system will place a market order. For your convenience, the order details will be displayed in the original MIT order.
5. After an MIT order is triggered, the system will not submit it unless there is enough buying power or positions in your account. Margin may be used for the transaction.
6. MIT orders cannot be executed in multiple directions at the same time. You cannot sell and short sell, or buy and buy back, the same stock at the same time through an MIT order. Suppose you hold a long position in a stock and place a sell order for the stock. If the order quantity is greater than the position quantity when the order is triggered, the order will not be executed.
7. MIT orders will only be triggered during regular trading hours.
8. If a stock supports short selling, you can select short selling when placing an order. If you do not hold any long position in the stock when the order is triggered, short selling will be executed.
9. Our advanced orders are simulated by Moomoo MY based on basic orders and are irrelevant to the exchanges' advanced orders. Please refer to the actual order page for more details.