• Is an order which given a client gives to the broker. The discretion is in terms of price or time and not in terms of buy or sell, instrument or quantity.
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| ||Order: Is a set of instructions with the intent of executing a transaction. The following is a list of order types. See: All or None (AON) or All or Nothing, Buy on Close, Buy on Opening, Contingent, Discretionary, Non-Discretionary, Do Not Reduce (DNR) , Exchange for Physicals (EFP) , Fill or Kill (FOK) , Good Till Canceled (GTC) , Immediate or Cancel (IOC) , Limit (LMT) , Market, Market if Touched (MIT), Market on Close (MOC) , Market on Opening, Not Held, One Cancels the Other (OCO), Open Order, Sell on Close, Sell on Opening, Stop (STP), Stop Limit (STP LMT), and various combinations as with spreads, options, and other instruments.|
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| ||Discretionary account|
Discretionary cash flow
Non discretionary account
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Power is the faculty or capacity to act, the strength and potency to accomplish something. It is the vital energy to make choices and decisions. It also includes the capacity to overcome deeply embedded habits and to cultivate higher, more effective ones. – Stephen R. Covey