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Technology Stocks : Data Broadcasting Corp. (DBCC)
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To: Ariella who wrote (2433)1/10/1999 12:55:00 AM
From: RockyBalboa  Read Replies (2) of 5102
 
Ariella, pls do not confuse

-limit orders (working in "better" direction) stop limit orders (working in the "worse" direction)

and what you pointed to,

-day orders and "GOOD-TILL-CANCEL (GTC) orders.

In practice I find this difference between a stop loss order and a limit order: If you tell a broker you want a limit order, it will go on the books for that day only and is cancelled at the close of market if it hasn't been executed. On the other hand, if you say you want a stop loss order, it stays on the books forever unless you cancel it.

It is only to correct to speak of day orders (the former) or GTC orders (the latter) when you explained "it will go on the books for that day only and is cancelled at the close of market if it hasn't been executed. On the other hand, ....it stays on the books forever unless you cancel."

The limit , market, stop limit and stop market order attributes can be elected regardless and unrelated to a day order or a GTC order.

C.
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