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Discretion
(redirected from discretion is the better part of valor)

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Discretion
Freedom given to the floor broker by an investor to use his judgment regarding the execution of an order. Discretion can be limited, as in the case of a limit order that gives the floor broker some distance from the stated limit price to use his judgment in executing the order. Discretion can also be unlimited, as in the case of a market-not-held order. See also: Market Not Held Order.
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Whoever said discretion is the better part of valor (Shakespeare?
IT'D BE FOOLISH TO RUSH A TRADE by Daily News (Los Angeles, CA)
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