Stop Order

Stop Order - (Often called Stop Entry) A pending order to buy above the current market price or sell below it, triggered when a specified “stop” price is reached. For example, a buy stop order converts to a market buy when price rises to the stop level. This is used to enter a position in the direction of momentum (e.g. breakout). After triggering, the stop entry becomes a market order and may fill at or beyond the stop price.