The Market order type is an order to buy or sell at the market bid or offer price. The supported products via our Trader Workstation API are: BOND, EFP, CASH, FUND, FUT, FOP, OPT, STK, WAR . Below is an example on how to code it in Python:
@staticmethod
def MarketOrder(action:str,
quantity:float):
#! [market]
order = Order()
order.action = action
order.orderType = “MKT”
order.totalQuantity = quantity
#! [market]
return order
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A Limit order is an order to buy or sell at a specified price or better. The supported products via our Trader Workstation API are: BOND, CASH, FUT, FOP, OPT, STK, WAR. Below is an example on how to code it in Python:
@staticmethod
def LimitOrder(action:str,
quantity:float, limitPrice:float):
# ! [limitorder]
order = Order()
order.action = action
order.orderType = “LMT”
order.totalQuantity = quantity
order.lmtPrice = limitPrice
# ! [limitorder]
return order
——————————–
Visit our GitHub guide to download the API sample Testbed, and review the Python code for other order types, such as Stop or Stop Loss order: http://interactivebrokers.github.io/
The sample syntax is in the OrderSamples.py file.
If you are interested in what else our GitHub can offer, see this article on building data science and algo trading skills:
https://ibkrcampus.com/ibkr-quant-news/github-algo-trading-data-science/
Disclosure: Interactive Brokers
The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Interactive Brokers, its affiliates, or its employees.
Disclosure: Forex
There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. When trading across foreign exchange markets, this may necessitate borrowing funds to settle foreign exchange trades. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets.
Disclosure: Futures Trading
Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com.