I'm confused by this discussion. How can MIT orders have any directional bias if they are executed when touched, from either direction, above or below the market??? Because you only place MIT orders below the market if you are buying, and above the market if you are selling. Hence, the only way for your order to get filled is if the market corrects. Stop orders are the reverse, hence for your stop order to get hit, the market has to rally for buy stop or decline for sell stop. MIT orders are often used in place of limit orders when buying dips/selling rallies where you want to be sure you're in the market even if you don't get the best fill.