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Stop Limit Order
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A variation of a stop order in which a sale must be executed at or above the limit price designated in the order. A buy must be executed at or below the limit price. Usually the stop price and the limit price are the same; but, occasionally the limit price will be different from the stop price to provide some margin of flexibility to a floor broker while protecting the investor who placed the stop limit order from the adverse effect of a major price move beyond the limit.
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