The 3Dimensional Trading Breakthrough

Brian Schad
Brian: These three types of orders are definitely the most common orders
placed with brokers and are valid at ALL exchanges.
Host: When you say “valid at all exchanges,” do you mean there are other
types of orders that are not accepted at particular exchanges?
Brian: That is precisely what I mean. For example, the Chicago Board
of Trade will not accept “stop-close-only” orders to be active only if the
market was to settle above/below a certain level. The Coffee, Sugar, Cocoa
Exchange of New York will accept those orders however. Your broker is a
professional and will steer you in the right direction. Our job is to place
price-specific orders in a timely manner!
Host: Can we walk through some of these miscellaneous type orders for
general knowledge anyway? . . . just to get an idea of what they sound
like.
Brian: Most certainly. These other types of orders are variations of the ones
we have just gone over. You will hear that there is not much difference in
the sentence structure of these uncommon type orders. Hear we go:
Market-On-Open, Market-On-Close, Market-If-Touched, Stop
Limit, Stop-Close-Only, Order Cancels Order: I will explain the
circumstances of each one of these types of orders with the
appropriate example:
Example #1 - Market-On-Open (MOO) order (initiating a futures
position): I want to go long 3 December Wheat futures contracts
when the grain markets open tomorrow:
“This is a day order for account #12345, buy long three Dec Wheat market-onopen.”
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