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  1. Trading Panels
  2. Order Entry

Order Types

Order Types allow you to specify how an order behaves when it enters the market.

Last updated 3 years ago

Order Types allow you to specify how an order behaves when it enters the market. For example, you may want an order to immediately fill at the current best price (market order) or to fill only at a particular price (limit order).

Order Types differ from order restrictions which set how the order behaves during the session. For example, an order may delete if not filled by the end of the session (Day) or may exist until filled or canceled (GTC).

Connection

Order Types

Brackets (SL/TP)

OCO

Additional

CQG

Market, Limit, Stop, Stop Limit

Server-side

(Single and Multiple)

Server-side

Algorithmic orders

(Iceberg, Trailing Limit)

Trailing Stop is not available

Rithmic

Market, Limit, Stop, Stop Limit, Trailing Stop (server-side). MIT, LIT

Server-side (single only)

Server-side

Binance (Spot)

Market, Limit,

Not available

Not available

Binance Futures

Market, Limit, Stop market, Stop Limit, Trailing Stop

Server-side

(only for existed position)

Not available

Behaviour (Open or Close)*

Bybit

Orders can be divided into 2 groups by side:

  • Buy order which opens a long position is sent if the trader believes in the further growth of the asset;

  • Sell order which opens a short position is sent if the trader believes in the further decrease of the asset.

Depending on a trading connection Quantower supports the following order types:

  • Market order is an order placed without a price with the intention of hitting the best Bid or taking the best Offer currently available in the market. The order fills at the current best price.

    Note, that Market orders may partially fill at multiple price levels.

  • Limit order allows you to submit an order at a specific (desired) limit price. Like market orders, limit orders allow for partial fills however, the remaining quantity continues to work in the market at the original limit price.

  • Stop order

💵
Order's side - Buy and Sell