Market if Touched (MIT)
Market if Touched (MIT) is an order type that allows traders to buy or sell a security if its price reaches a specified level. This type of order is typically used by traders who want to take advantage of price movements in the market, but don’t want to actively monitor their positions. With a MIT order, the trade will only be executed if the specified price is reached, and the order will remain open until it is either filled or cancelled. This can be a useful tool for traders who want to set their own entry or exit points in the market.