$9.01. The trailing stop order is not executed because ABC has not fallen $1.00 from $10.00. Later, the stock rises to a high of $15.00 which resets the stop price to $13.50. It then falls to $13.50 ($1.50 (10%) from its high of $15.00) and the trailing stop sell order is entered as a market order. Trailing stop-limit order A trailing stop-limit order is similar to a trailing stop order. Instead of selling at market price when triggered, the order becomes a limit order. Peg orders To behave like a market maker, it is possible to use what are called peg orders. Peg best Like a real market maker, the stepper: Uses the other side of the spread Always jumps over the competitors order to be the best one, the first in the line The conditions are: Price limitation, no more jumping over, unless the price moves back to its area Step value Mid-price peg A mid-price order is an order whose limit price is continually set at the average of the "best bid" and "best offer" prices in the market. The values of the bid and offer prices used in this calculation may be either a local or national best bid and offer. They are also called Peg-to-Midpoint. Mid-price peg order types are commonly supported on alternative trading systems and dark pools, where they enable market participants to trade whereby each pays half of the bid–offer spread, often without revealing their trading intentions to others beforehand. Market-if-touched order A buy market-if-touched order is an order to buy at the best available price, if the market price goes down to the "if touched" level. As soon as this trigger price is touched the order becomes a market buy order. A sell market-if-touched order is an order to sell at the best available price, if the market price goes up to the "if touched" level. As soon as this trigger price is touched the order becomes a market sell order. One cancels other orders One cancels other (OCO) orders are used when the trader wishes to capitalize on only one of two or more possible trading possibilities. For instance, the trader may wish to trade stock ABC at $10.00 or XYZ at $20.00. In this case, they would execute an OCO order composed of two parts: A limit order for ABC at $10.00 and a limit order for XYZ at $20.00.