TradeStation Help

Placing If Touched Orders

The If Touched advanced order parameter is used to specify a price that, when touched, will send the selected type of order to the market. This is only available for Market and Limit orders (including Auto Limit/Stop orders in the Matrix).

Placing a Market If Touched (MIT) Order

When Market is selected as the order type, then this order will become a Market If Touched (MIT) order as soon as a trade occurs at the If Touched price or better.  

1. From the Order Bar, select Market for the Order Type.
2. From the Order Bar, click Advanced to display the advanced parameters, or in the Matrix window, open the Advanced Order Bar (View > Advanced Order Bar).
3. Place a check mark next to If Touched.
   

4. Enter a price that represents the trigger price at which the Market order will be sent to the market.  

The market order will be sent as soon as the price is touched.

Placing a Limit If Touched (LIT) Order

When Limit is selected as the order type, then this order will become a Limit If Touch (LIT) order as soon as a trade occurs at the If Touched price or better.

1. From the Order Bar, select Limit (including LMT/STP or LMT/STL in the Matrix) for the Order Type.
2. Enter a price for the Limit Price.
3. From the Order Bar, click Advanced to display the advanced parameters, or in the Matrix window, open the Advanced Order Bar (View > Advanced Order Bar).
4. Place a check mark next to If Touched.
   

5. Enter a price that represents the trigger price at which the Limit order will be sent to the market.

The limit order will be sent as soon as the price is touched but will be filled based on standard Limit policies.

 For options orders, if touched orders are based on Bid or Ask prices rather than trades. When Market is selected as the order type, then this order will become a Market If Touched (MIT) order as soon as the Bid price drops to touch the If Touched price (Buy orders), or as soon as the Ask price rises to touch the If Touched price (Sell orders).