Definition of 'Not-Held Order'
There are a few reasons why someone might place a not-held order. One reason is if they are not sure of the exact price they want to pay for the security. Another reason is if they are willing to accept a different price if it means that the order will be filled more quickly.
Not-held orders are often used by traders who are day trading or swing trading. These traders are looking to make quick profits, and they are not as concerned about getting the best possible price for the security.
Not-held orders can also be used by investors who are looking to buy or sell a security over a longer period of time. These investors may be willing to accept a different price if it means that they can get the security at a time when they are comfortable with the market conditions.
It is important to note that not-held orders are not as reliable as market orders or limit orders. Market orders are guaranteed to be executed at the best available price, and limit orders are guaranteed to be executed at a specified price or better. Not-held orders, on the other hand, are not guaranteed to be executed at all.
If you are considering placing a not-held order, it is important to understand the risks involved. You should be aware that you may not get the price you want, and the order may not be filled at all.
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