System and method for trading above or below the market

1. A computer-implemented method for trading below the market, comprising:

receiving from a first party a buy order to trade a financial instrument at a predetermined distance below a market value of the financial instrument, the market value based on an established market value indicator;

displaying the buy order via a user interface;

receiving a selection of the displayed buy order by a second party at a particular price via the user interface, the selection indicating acceptance of the buy order by the second party at the particular price;

determining by a computer, in response to the received selection, an updated market value of the financial instrument; and

completing the order only if the accepted price is at least the predetermined distance below the updated market value.

2. The method of claim 1 , wherein the financial instrument is one of a stock, bond, contract, option, future, commodity and currency.

3. The method of claim 1 , wherein the predetermined distance is a percentage.

4. The method of claim 1 , wherein the predetermined distance is a dollar amount.

5. The method of claim 1 , wherein the established market value indicator is the NBBO (National Best Bid and Offer).

6. The method of claim 5 , wherein the market value is based on the midpoint of a bid and ask price.

7. The method of claim 5 , wherein the market value is based on a last trade price.

8. The method of claim 5 , wherein the market value is based on a third party software program that scans market data.

9. The method of claim 1 , wherein the second party accepts the buy order by clicking on a posting of the buy order over a network.

10. The method of claim 1 , wherein completing the buy order includes executing the buy order at the accepted price.

11. The method of claim 1 , wherein completing the buy order includes submitting the buy order to a third party system for execution at the accepted price.

12. The method of claim 1 , further comprising:

receiving at least one activation condition with the buy order; and

delaying activation of the buy order until the at least one activation condition is satisfied.

13. The method of claim 12 , wherein the at least one activation condition includes activating the buy order only if the market value of the financial instrument remains unchanged for a particular interval of time.

14. The method of claim 13 , wherein the particular interval of time is 15 seconds.

15. The method of claim 12 , wherein the at least one activation condition includes activating the buy order only on a one-minute up tick on a particular market index.

16. The method of claim 12 , wherein the activation of the order comprises posting the order on a bulletin board transmitted over a network.

17. The method of claim 1 , further comprising:

receiving at least one execution condition with the buy order; and

completing the buy order only if the at least one execution condition is satisfied.

18. The method of claim 17 , wherein the at least one execution condition includes completing the buy order only if a particular market index increases during a particular interval of time after the buy order is accepted.

19. The method of claim 18 , wherein the particular interval of time is one minute.

20. The method of claim 17 , wherein the at least one execution condition includes completing the buy order only if the market value of the financial instrument remains unchanged for a particular interval of time.

21. The method of claim 20 , wherein the particular interval of time is a random period between an upper and lower limit.

22. A computer-implemented method for trading above the market, comprising:

receiving from a first party a sell order to trade a financial instrument at a predetermined distance above a market value of the financial instrument, the market value based on an established market value indicator;

displaying the sell order via a user interface;

receiving a selection of the displayed sell order by a second party at a particular price via the user interface, the selection indicating acceptance of the sell order by the second party at the particular price;

determining by a computer, in response to the received selection, an updated market value of the financial instrument; and

completing the order only if the accepted price is at least the predetermined distance above the updated market value.

23. The method of claim 22 , wherein the financial instrument is one of a stock, bond, contract, option, future, commodity and currency.

24. The method of claim 22 , wherein the predetermined distance is a percentage.

25. The method of claim 22 , wherein the predetermined distance is a dollar amount.

26. The method of claim 22 , wherein the established market value indicator is the NBBO (National Best Bid and Offer).

27. The method of claim 22 , wherein the market value is based on the midpoint of a bid and ask price.

28. The method of claim 22 , wherein the market value is based on a third party software program that scans market data.

29. The method of claim 22 , wherein the second party accepts the sell order by clicking on a posting of the sell order over a network.

30. The method of claim 22 , further comprising:

receiving at least one activation condition with the sell order; and

delaying activation of the sell order until the at least one activation condition is satisfied.

31. The method of claim 30 , wherein the at least one activation condition includes activating the sell order only if the market value of the financial instrument remains unchanged for a particular interval of time.

32. The method of claim 22 , further comprising:

receiving at least one execution condition with the sell order; and

completing the sell order only if the at least one execution condition is satisfied.

33. The method of claim 30 , wherein the at least one execution condition includes completing the sell order only if a particular market index increases during a particular interval of time after the sell order is accepted.

34. The method of claim 30 , wherein the at least one execution condition includes completing the sell order only if the market value of the financial instrument remains unchanged for a particular interval of time.

35. The method of claim 33 , wherein the particular interval of time is a random period between an upper and lower limit.