Creating an Order object with the IB API

Similar to how a Contract object encapsulates all the information IB needs for financial instruments, Order objects contain all the information required for IB to correctly place orders in the market. IB is famous for having dozens of order types, from simple market orders to advanced algorithms that slowly execute trades based on time or volume conditions. Key attributes of the Order class include the following:

• orderId: A unique identifier for the order, typically assigned by the client
• action: Specifies the action type of the order, such as BUY or SELL
• totalQuantity: The amount of the asset to be bought or sold
• orderType: Defines the type of order, such as LMT for limit orders or MKT for market orders
• lmtPrice: The limit price for limit orders
• auxPrice: Used for stop or stop-limit orders to specify the stop price
• tif: Time in force, determining how long the order remains active
• outsideRTH: A boolean indicating...