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Limit order with & without GTC?

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    Limit order with & without GTC?

    Hi

    Is there any difference in the behaviour of a managed entry limit order (e.g. EnterLongLimit) in the following examples?

    In both cases CalculateOnBarClose = false for every tick operation.

    Example 1
    entryOrder1 = EnterLongLimit( nContracts1, entryLevel, entryName1 );

    Example 2
    if( entryOrder1 == null )
    entryOrder1 = EnterLongLimit( 0, true, nContracts1, entryLevel, entryName1 );

    Specifically:
    Where does the limit order reside in each example?
    Does Example 1 send a new order to the trade server every tick?

    Regards
    Tony

    #2
    Tony, per default the orders would expire in NT at the end of the bar they were placed on, in your second example you set them to liveUntilCancelled, so they persist until you cancel or the end of session handling takes care.

    The limit orders is working at your broker / exchange in both cases.

    Comment


      #3
      Thanks, Bertrand

      I understand in the first example, the order expires at the end of the bar, but please clarify two points:
      (a) When CalculateOnBarClose = false, does the order in Example 1 expire every tick or every completed bar?
      (b) In example 1, is the order re-transmitted to the broker every time it expires/re-submits (every tick?) or is the effect that the order remains at the broker unless is it not re-submitted?

      Regards
      Tony

      Comment


        #4
        Tom, it would expire on the next bar update seen, so next tick if COBC is false.

        The order expiring means, it goes through a full cancel and resubmit cycle.

        Comment


          #5
          Thanks, Bertrand.

          I will use GTC.

          Regards
          Tony

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