An order to a
broker to
buy or
sell a
security at a certain stated
price once a different stated price is reached. For example, suppose the second price is $50. A limit if touched order remains inactive until that security begins trading at $50, at which point the broker may
fill the order at the
investor's preferred price. A limit if touched order is identical to a
stop limit order, except for the fact that a limit if touched
sell order is made when the
security is trading below the
stop price, while a stop loss sell order is made when the security is trading above the stop price.