A regular market order is the simplest type of order. This order type is used for placing a single order immediately at the best available market price. The market price is equivalent to the LTP (as explained in the Last traded price of a financial instrument recipe of Chapter 3, Fetching Financial Data).
On placing a regular market order, it goes through various intermediate states before finally reaching an end state (COMPLETE or REJECTED). A regular market order immediately moves to the end state without waiting on any intermediate states. The following state machine diagram demonstrates the various states of a regular market order during its lifetime:
This recipe demonstrates placing of the following regular market orders and querying their status:
- BUY, REGULAR, INTRADAY, MARKET order
- SELL, REGULAR, INTRADAY, MARKET order
- BUY, REGULAR, DELIVERY, MARKET order
- SELL, REGULAR, DELIVERY, MARKET order
Getting ready
Make sure the broker_connection object...
