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  • user warning: Table './mysmp_drupal/cache_filter' is marked as crashed and should be repaired query: UPDATE cache_filter SET data = '<h2>Above the Market Definition</h2><br />An <strong>above the market order</strong> is a request to buy or sell a security above its current price.&nbsp; This type of order is utilized for both short and long positions.&nbsp; This order type can be used to both initiate and exit positions.&nbsp; This is a favorite for momentum traders, because they will only want to execute an order if a particular price level is met.&nbsp; So, an above the market order type is used as insurance that the security has enough strength to clear a particular <a href=\"/technical-analysis/support-and-resistance.html\">resistance level</a>.&nbsp; Conversely an above the market order is used as a stop strategy for short positions that go awry.<br /><br /><h2>Above the Market Order Types</h2><br />There are a number of above market orders utilized by traders on a daily basis.&nbsp; Below are a list of the most common types:<br /><h3>Limit order to sell</h3>Order is placed above the current price in order to exit a winning long position.&nbsp; <br /><h3>Stop limit order to buy</h3>A buy order is placed above current market levels.&nbsp; This is a popular strategy for <a href=\"/day-trading/day-trading-breakouts.html\">breakout traders</a> who are waiting for price confirmation prior to entering a position.<br /><h3>Stop Market Order to Buy to Cover</h3>This is a stop strategy for short positions, where a trader places a buy to cover order above current market levels in order to stop out a losing position.<br /><br /><h2>Above the Market Order Chart Example</h2><br />Below is an example of an above the market order buy order for UYG.&nbsp; So, if UYG is able to clear $14, a buy order will be executed to enter a long position.<br /><br /><div class=\"rtecenter\"><img title=\"Above the Market Order\" height=\"403\" alt=\"Above the Market Order\" width=\"500\" src=\"/files/u1/above-the-market.png\" /></div><br />', created = 1560870944, expire = 1560957344, headers = '', serialized = 0 WHERE cid = '1:a441cd28f850757ce259562ec3f28e0a' in /var/www/html/mysmp/includes/cache.inc on line 109.
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Above the Market Order Type

Above the Market Definition


An above the market order is a request to buy or sell a security above its current price.  This type of order is utilized for both short and long positions.  This order type can be used to both initiate and exit positions.  This is a favorite for momentum traders, because they will only want to execute an order if a particular price level is met.  So, an above the market order type is used as insurance that the security has enough strength to clear a particular resistance level.  Conversely an above the market order is used as a stop strategy for short positions that go awry.

Above the Market Order Types


There are a number of above market orders utilized by traders on a daily basis.  Below are a list of the most common types:

Limit order to sell

Order is placed above the current price in order to exit a winning long position. 

Stop limit order to buy

A buy order is placed above current market levels.  This is a popular strategy for breakout traders who are waiting for price confirmation prior to entering a position.

Stop Market Order to Buy to Cover

This is a stop strategy for short positions, where a trader places a buy to cover order above current market levels in order to stop out a losing position.

Above the Market Order Chart Example


Below is an example of an above the market order buy order for UYG.  So, if UYG is able to clear $14, a buy order will be executed to enter a long position.

Above the Market Order

Tim Ord
Ord Oracle

Tim Ord is a technical analyst and expert in the theories of chart analysis using price, volume, and a host of proprietary indicators as a guide...

Tradingsim.com
Day Trading Simulator

Tradingsim.com provides the ability to simulate day trading 24 hours a day from anywhere in the world. TradingSim provides tick by tick data for...

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