How to do IOC for limit order

Created at 12 Feb 2019, 16:57
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Rimokatolik

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Joined 12.02.2019

How to do IOC for limit order
12 Feb 2019, 16:57

Seems that cTrader supports only IOC for market order, and GTC and GTD for limit orders. However, if I use FIX provided by my broker I can use IOC for limit orders. Is there a way to simulate it? If I use GTD how close can be ExpireTime? Our clocks do not need to match perfectly (actually probably won't), so if I put small value, like 100ms, it may expire by the time you process order.

@Rimokatolik
Replies

PanagiotisCharalampous
13 Feb 2019, 09:32

Hi ctid731646,

A better way to achieve this would be to check the trigger price on your side and send market orders with tag 44 specified. In this case, your order will be triggered as a limit order, since tag 44 will represent the limit, and will use IOC for execution.

Best Regards,

Panagiotis

@PanagiotisCharalampous

Rimokatolik
13 Feb 2019, 23:28

Great, thank you. Good to know.

@Rimokatolik

Rimokatolik
15 Feb 2019, 17:25

Unfortunately this did not work for me when I tried it. I got

Text (58) = INVALID_REQUEST:illegal value of limitPrice (1.12681) for MARKET order

My order was:

8=FIX.4.4|9=322|35=D|49=fxpig.3001420|50=Trade|56=cServer|57=TRADE|34=5|52=20190215-15:20:20.493|11=1_O_06-5-152020492|55=1|54=2|60=20190215-15:20:20.395|38=1000|40=1|44=1.12681|494=5_112681_112685_20190215-15:19:18.182_1_CG4IC1:CDSv8+OL1MLT10NTS10CTS10MSS100INV0+GO1VI500VO1ICO1GLC15MGC20TLC100ICC0TCM-5DGV15DGT600000DLT60000DLC100DCM-5|10=037|

@Rimokatolik

Rimokatolik
19 Feb 2019, 21:03

Any update on this please?

@Rimokatolik

PanagiotisCharalampous
20 Feb 2019, 10:22

Hi ctid731646,

I checked this a bit more and tag 44 is not supported for market orders at the moment. So unfortunately there is no workaround for now.

Best Regards,

Panagiotis

@PanagiotisCharalampous
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