Assume the current market price of a stock is 30:
● If you submit a sell LIT order at 33 and limit price at 32, and later the market price rises to 33, the sell limit order will be triggered and filled at a price no less than 32.
● If you submit a buy LIT order at 26 and limit price at 27, and later the market price drops to 26, the buy limit order will be triggered and filled at a price no more than 27.
Moomoo MY simulates advanced order types on its books and routes the order to its clearing broker when it reaches the trigger price. Moomoo MY simulates limit if touched orders with the following default triggers:
•Sell Simulated Limit if Touched Orders become limit orders when the last traded price is greater than or equal to the trigger price.
•Buy Simulated Limit if Touched Orders become limit orders when the last traded price is less than or equal to the trigger price.
Unless you select specific trading hours, advanced orders will only be triggered during regular trading hours or continuous trading sessions.