Conditional Orders - Stop Orders
A type of order that will be submitted or canceled if set criteria are met, which are defined by the trader/investor entering the order.
This allows for a greater customization of the order to meet the specific needs of the investor.
Conditional Orders are "pending" orders and enter into negotiation automatically only upon the occurence of a certain condition, such as the achievement of given market price, called "trigger price". The usefulness of these orders is to allow trading without the need of constantly monitoring the markets.