These are orders that instruct a broker to another action if filled. The typical action is to place a stop or limit order on the trade.
Other Trading Basics
Controlled Risk Bet
A trade where the maximum downside is predefined, usually with a guaranteed stop-loss order.
This refers to a traders account with their broker.
It is a register of their completed transactions, balances and orders.
Black Box Trading
Also referred to as automatic or algorithmic trading.
The trader does not need to see the system in operation, in effect its a black box.
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