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Stop limit order

A specialty brokerage order that becomes active (the stop order part) when a stock hits a certain price and subsequently triggers a limit order.

Expanded Definition

For example, if you bought a stock at $10 that's now trading at $20 and you want to sell if the stock hits $18.25, but you don't want to accept anything less than $18, you can place a stop limit order with, for example, a stop at $18.25 (triggers the order) and a limit at $18 (puts a floor on the acceptable price). It should be noted that the stop limit will get you the price you seek (if it's available), but it doesn't guarantee execution.

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