discretionary order

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Discretionary order

A type of buy order or sell order that gives the broker the freedom and power to make the execution at any time and price that is seen fit and reasonable, given the investor's goals.

Discretionary Order

An order to buy or sell a security where the broker has the ability to decide when is the best time and price at which to execute the order, in accordance with the client's investment goals and the prudent person rule.

discretionary order

A customer order to a broker giving the broker discretion in the buying and selling of securities. Depending on the customer's instructions, the amount of discretion may vary from very limited (that is, price only) to nearly complete.
References in periodicals archive ?
Cole includes everything from changes in the Chain of Command, the arrival of lesser commands, communication styles, insufficient instructions, discretionary orders, the disregarding of orders, failed notifications, communication cutoffs, and so much more.
Command And Communication Frictions In The Gettysburg Campaign
Ewell discretionary orders to take the Federal position on Cemetery Hill "if practicable." But Ewell was reluctant to push his advantage on the eve of the first day, and by the next morning, Union troops were dug in and reinforced, making their position virtually impregnable.
Longstreet, on the other hand, proved fully capable of executing discretionary orders on the battle's second day.
Learning program management on the battlefield at Gettysburg
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