Day traders combine multiple individual orders to make their trades, and for most day trading markets, there are many different types of orders that are available. The most well known order types are market orders, limit orders, and stop orders, but there are also some less well known order types that are equally as important.

Two order types that many day traders (including some experienced day traders) have never heard of, are market if touched orders, and limit if touched orders. Market if touched (also know as MIT orders), and limit if touched (also known as LIT orders) are replacements for stop and stop limit orders, and in the right situation they should be used just as frequently as stop and stop limit orders.

If you do not yet know what if touched orders are, or when they should be used, it may be that your stop orders are not being filled correctly. The Stop or If Touched Orders article explains the differences between stop and if touched orders, and gives examples of when if touched orders should be used instead of stop orders.