Order Entry Quiz
Entering orders in your broker's platform can sometimes be confusing. There are many different types of orders.
Take this quiz and see if you know what types of orders to place.
When a stop order is triggered, it becomes a market order
True
False
Correct!
Wrong!
A sell limit order will be entered above the current market price.
True
False
Correct!
Wrong!
You want to get long if the prices breaks out to the upside. What type of order should you place?
Buy limit order
Buy stop order
Market order
Correct!
Wrong!
You were filled on a short order. You want to protect yourself in the event prices reverse and move against you. What type of order should you place?
Buy limit order
Buy stop order
Limit order
One cancels all order
Correct!
Wrong!
You want to get short but want a better entry price than the current market price. What type of order should you place?
A limit order above the current market price
A limit order below the current market price
A sell stop order above the current market price
A sell stop order below the current market price
Correct!
Wrong!
You are day trading with TopStep Trader. One of their rules is you have to be flat at the end of the day. What kind of order can you place to make sure you follow this rule?
MIT order
GTC order
DAY order
MOC order
Correct!
Wrong!
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Order Entry Quiz
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