This order is an expansion of the market-on-close order, adding to it a limit condition, which places a maximum on the entry price and minimum on the selling price. If the market doesn't reach your limit price, your order will not be executed. Limit orders allow you to set a maximum purchase price for your buy order, or a minimum sale price for your sell orders. It shows both market and limit orders to buy and sell for a given stock. If you know you want to own shares of a certain company fairly soon, it's trading at a price you're comfortable with, and it's not a very volatile stock, a market order should serve you well. A market order that is placed after trading hours, will be filled at the market price on open the next trading day. You can place an 'At Limit' order during market hours. For most folks, if their trade is executed at a price that's a bit above or Limit orders. Nov 21, 2014 For many trades, market orders are good enough. However A Limit-on-close (LOC) order will be submitted at the close and will execute if the closing price is at or better than the submitted limit price. . You can also place an 'At Limit' order when the market is Mar 6, 2017 Definition of Market, Limit, Stop, Stop Limit and If Touched orders, and how these order types are used in trading. close to market limit . For example, an investor enters an order A type of limit order to buy or sell shares near the market close only if the closing price is trading better than the limit price. Source: StreetSmart So if the stock drops to that price (or gaps below that price), the stop order to sell is triggered and becomes a market order executed on the next trade. LOC orders direct-routed to Island must be received by 15:50. Here, we'll focus on three main types of orders: market, limit and stop. A buy limit-on-open order is filled if the open price is lower, not filled if the open price is May 17, 2017 Market orders execute a transaction at the present stock price and limit orders execute the transaction if the stock price falls within certain present limits. Summary of NYSE markets (NYSE, NYSE MKT, NYSE Arca) rules for entering/canceling/modifying limit-on-close (LOC) A limit on close order can only be placed on DAY orders and is based on the market closing price on the current trading day when the order is entered while the market is open. For example, a market-on-open order is guaranteed to get the open price, whatever that may be. close to market limitCombined with price instructions, this gives market on close (MOC), market on open (MOO), limit on close (LOC), and limit on open (LOO)