The TWS documentation on orders is most useful when you want to determine, which order object fields need to be initialized. But that documentation does not give you any details on exactly what the different order types (or algos) do, what thez are intended for, or what their major limitations are.
Richard gave you an overview of the STP, STLMT, and "IF TOCUHED" orders, but I recommended that, if you have not done so yet, you spend some time with this IBKR "" explorer. Here the .
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On Fri, Nov 22, 2024 at 12:01 PM, Danny wrote:
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Limit if Touched
A??is an order to buy (or sell) a contract at a specified price or better, below (or above) the market. This order is held in the system until the trigger price is touched. An LIT order is similar to a stop limit order, except that an LIT sell order is placed above the current market price, and a stop limit sell order is placed below.
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