Author Topic: LMT + MKT orders  (Read 3308 times)

Douglas Goullet

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LMT + MKT orders
« on: March 27, 2015, 08:38:02 am »
I have entered a few orders in TWS as combo orders and they use LMT + MKT orders. I have to say that they work really well but I am not sure if this can be eventually be integrated in PTL trader. Its good for less liquid pairs, or to enter a bit better by choosing your limit price.

IBs definition:

LMT + MKT, where one or both legs are submitted as marketable limit orders when the combo becomes marketable. If only one leg fills, the second leg is resubmitted as a market order.

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Re: LMT + MKT orders
« Reply #1 on: March 27, 2015, 04:16:00 pm »
Sounds like a good idea. But the question is - what to do, if no limit order is filled at all? How long to wait? What if it gets filled, but the price of the second instrument goes way off in the mean time?

Douglas Goullet

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Re: LMT + MKT orders
« Reply #2 on: April 02, 2015, 04:14:54 pm »
they call it a marketable limit order, i will contact IB to get more detail.