Below the Market
An order to buy or sell a security at a price lower than the current market price.
Investopedia Commentary
Investors may choose to place a limit order to buy, a stop order to sell, or a stop-limit order to sell. In order to limit losses, investors holding a long position may place a stop order, which activates the sale of the securities if the price declines below a particular point.
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See also: Above the Market, Limit Order, Market Order, Stop Order, Stop-Limit Order, Stop-Loss Order