Pending order
A pending order command allows the user to perform a transaction when certain conditions are met. There are three types of pending orders available on the terminal: waiting orders, orders with cancel and active orders.
Pending orders are divided in two classes – limit orders and stop orders.
Limit orders - are set by a price “better” than the current market price (lower for BUY order and higher for SELL order). These are referred to as “buy-limit” and “sell-limit” orders.
Stop orders - are set by price “worse” than current market price (higher for BUY order and lower for SELL order). These are referred to as “buy-stop” and “sell-stop” orders.
All orders have a “duration” at the end of which the order will be automatically deleted by trade server. There are two kinds of duration:
- GTC – the period of order duration is not limited.
- Daily – this kind of orders automatically deleted by trade server in the end of the day.
Through this function, orders can obtain one of the following states:
- not active;
- active;
- completed.
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