Market If Touched (MIT) Order

A Market If Touched (MIT) order is a conditional order that becomes a market order — executing at the best available price — once the underlying security's price reaches a specified trigger price. It is the opposite of a stop order: an MIT buy order is placed below the current market price (to buy on a dip), while an MIT sell order is placed above the current market price (to sell into a rally). Unlike a limit order, which guarantees price but not execution, an MIT order guarantees execution once triggered but not the exact fill price. MIT orders are popular among traders who want to enter or exit at a target price level without monitoring the market continuously.