Order Type......
1) GTC –good till cancel.
By default all BMD’s orders are valid for ONE trading day only. But if you place an order + GTC, then your order will be carry forward to the next day till 1) you ask to cancel the order or 2) when the contract expires. With GTC, you dont have to place the same order everyday.
2) GIS – I have no idea
3) FAK – fill and kill.
To cancel any unmatched portion of an order IMMEDIATELY after an order had been placed.
Say, you want to buy 10 at 1200 + FAK while there are only 5 sellers at 1200. In this case, you bought 5 at 1200 and the balance of 5 lots will be deleted instantly from the system.
4) MOO –market on open
To buy or sell at the OPENING PRICE. This is a MARKET ORDER and only valid before market opens. And since this order is placed before market opens, the opening price is the price you will get for your buy or sell order.
5 years ago
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