In this article, We learn about "At Best".Let's Go!
“At Best” is a trading term used when an order is given to a broker without a specific price limit.
This means that the broker has the discretion to execute the order at the best price that they can obtain in the market as quickly as possible.
This is typically done when the trader wants to make sure the order is filled and prioritizes execution over price.
For a buy order, an “At Best” instruction implies the broker should try to get the lowest possible price, while for a sell order, it means the broker should aim for the highest possible price.
However, because no price limit is specified, there is a risk that the final execution price could be significantly different from the current market price, especially in volatile market conditions.
The opposite of an “At Best” order would be a “Limit” order, where the trader specifies the highest price they’re willing to pay for a buy order, or the lowest price they’re willing to accept for a sell order.
A limit order ensures that the trader won’t pay more or sell for less than a specific price, but it doesn’t guarantee the order will be filled.