Investment Education Trading Topics Order Types Advanced Orders Conditional Order (CO)
Advanced Orders
A conditional order (CO) is an order to buy or sell a security based on a particular market event such as a stock reaching its 52-week high or low, trading at a certain volume level or price, or increasing/decreasing by a specific % or $ change.
You might give conditional stop or limit orders on a stock, on an options contract, jointly on a stock and option, or on a stock and an index.
Note: Conditional orders are available for stocks, ETFs and options, although the conditions available for option orders will be limited to bid and ask.
Example
Company X is currently trading at $23.
You would like to buy Company X, but think it is currently overpriced.
You decide you would like to buy the stock if it reaches its 52-week low of $19.
Therefore, you enter a conditional order to buy 100 shares of Company X if and when it reaches its 52-week low.
While you are away from your computer, Company X's price drops to its 52-week low of $18 and triggers your CO - executing a market order purchase for 100 shares of Company X at your desired price.
Advanced orders are only available for listed equities trading at $1.00 per share or higher, exchange-traded funds (ETFs), and options.
Investors should consider the investment objectives, risks, charges, and expenses of an Exchange Traded Fund (ETF) carefully before investing. A prospectus contains this and other information about the ETF and can be obtained from the issuer. The prospectus should be read carefully before investing.
Options involve risk and are not suitable for all investors. Detailed information on our policies and the risks associated with options can be found in Scottrade's Options Application and Agreement, Brokerage Account Agreement, and Characteristics and Risks of Standardized Options (available at your local Scottrade branch office or from the Options Clearing Corporation at 1-888-OPTIONS or by visiting www.888options.com). All option accounts require prior approval by Scottrade. Market volatility, volume, and system availability may impact account access and trade execution. Supporting documentation for any claims will be supplied upon request.
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| One Cancels All Order (OCA) |
| Trading: Conditional Order (CO) |
| Scottrade Trading Site: Conditional Orders (CO) |
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| Trading: Order Status in Advanced Orders |
| Extreme Orders for Everyday Investors |
| Using AON to Get What You Want |
| Trading Odd Lots |
| Stop & Stop Limit Orders for Beginners |
| Become Better Informed with the New Knowledge Center |
| Advanced Orders | 1/18/11 |
| Discover Scottrade | 1/18/11 |
| Planning for Retirement | 1/18/11 |
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Any specific securities, or types of securities, used as examples are for demonstration purposes only. No information on this Web site should be considered a recommendation or None of the information provided should be considered a recommendation or solicitation to invest in, or liquidate, a particular security or type of security.
Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund carefully before investing. A mutual fund's prospectus contains this and other information about the mutual fund. Prospectuses are available through our trading site or through a Scottrade branch office. The prospectus should be read carefully before investing. No transaction fee (NTF) funds are subject to the terms and conditions of the NTF funds program. Scottrade is compensated by the funds participating in the NTF program through recordkeeping, shareholder, or SEC 12b-1 fees.
Investors should consider the investment objectives, charges, expense, and unique risk profile of an Exchange Traded Fund (ETF) carefully before investing. Leveraged and Inverse ETFs may not be suitable for long-term investors and may increase exposure to volatility through the use of leverage, short sales of securities, derivatives and other complex investment strategies. A prospectus contains this and other information about the ETF and should be obtained from the issuer. The prospectus should be read carefully before investing.
Margin trading involves interest charges and risks, including the potential to lose more than deposited, or the need to deposit additional collateral in a falling market. Margin Disclosure Statement (PDF) is available for download, or it is available at one of our branch offices. It contains information on our lending policies, interest charges, and the risks associated with margin accounts.
Options involve risk and are not suitable for all investors. Detailed information on our policies and the risks associated with options can be found in the Scottrade Options Application and Agreement, Brokerage Account Agreement, and by downloading the Characteristics and Risks of Standardized Options and Supplements (PDF) from The Options Clearing Corporation, or by requesting a copy from your local branch office. Supporting documentation for any claims will be supplied upon request.
Market volatility, volume, and system availability may impact account access and trade execution.
Testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.