This article details the core rules, trigger logic, and ideal scenarios for six advanced order types, designed to meet the need for precise trading in various market conditions.

1. Limit Orders

Limit orders need to specify the transaction price, and will only be executed when the market hits the specified price or better. Trading at a better price means that the shares are traded at a price lower than the limit price when being purchased or at a price higher than the limit price when being sold.

Available trading hours: 4:00 a.m. - 8:00 p.m. (EST)

Supported order validity: Day/Good-till-canceled/Good-till-date

2. Market Order

In the case of a market order, the order quantity, rather than the price, must be specified. The order will be submitted at a price higher than the current market price in an effort to ensure that the order can be fully executed at the market price.

Available trading hours: 9:30 a.m. - 4:00 p.m. (EST)

Supported order validity period: Rest-of-day

Due to the limited market liquidity during pre-market and after-hours sessions, prices may fluctuate greatly; as a result, market orders are only issued after the opening of a normal trading session.

3. Buy if Touched

A trigger price must be set for "Buy if Touched" orders. When the market price hits the trigger price, the system is required to submit the price (market price/limit price), quantity and other parameters relating to the buy order.

Supported order validity: Day/Good-till-canceled/Good-till-date

4. Sell if Touched

A trigger price must be set for "Sell if Touched" orders. When the market price hits the trigger price, the system is required to submit the price (market price/limit price), quantity and other parameters relating to the sell order.

Supported order validity: Day/Good-till-canceled/Good-till-date

5. Trailing to Buy

"Trailing to Buy" orders require that a certain price fluctuation value or price limit be set with respect to price rebounds from the lowest point after the order is placed. When the current market price fluctuation is triggered, the system is required to submit the order spread, quantity and other parameters relating to the buy order.

Supported order validity: Day/Good-till-canceled/Good-till-date

6. Trailing to Sell

"Trailing to Sell" orders require that a certain price fluctuation value or price limit be set with respect to price drops from the highest point after the order is placed. When the market price fluctuation is triggered, the system is required to submit the order spread, quantity and other parameters relating to the sell order.

Supported order validity: Day/Good-till-canceled/Good-till-date

Disclosures

Market order is a convenient online trading method provided by Long Bridge for customers. Long Bridge provides stable services as much as possible, but it cannot guarantee its absolute reliability. If the market order is not executed due to network interruption, server abnormality and other physical factors, Long Bridge will not be liable for any loss or damage caused thereby.

The conditional order feature is an additional service provided by Long Bridge for its clients. Before the specified order conditions are met, conditional orders are temporarily stored in Longbridge Securities’ system. However, due to system upgrades, corporate actions, or other uncontrollable factors, Long Bridge may cancel conditional orders stored in the system.  Long Bridge shall not be held liable for any consequences resulting from such cancellations.

Additionally, while the conditional order feature is designed to assist clients in executing their trading plans, market fluctuations may cause the execution results to differ from clients' expectations. Furthermore, the execution of conditional orders may be affected by network issues, third-party technical failures, or other unforeseen external factors.

We recommend that clients fully understand the characteristics and limitations of the conditional order feature before using it and regularly review and monitor their conditional orders to ensure their trading plans are not impacted.  Long Bridge reserves the right to modify or terminate the conditional order feature at any time without prior notice.