This chapter introduces various types of bracket and cover orders that can be placed on exchanges via the broker APIs. The recipes include code for placing 12 types of orders and querying their statuses, canceling open orders, and exiting completed orders. These recipes will be a fundamental part of your algorithmic trading strategies. Understanding all of the types of orders and knowing which one to place for the given requirement is crucial for building a successful trading strategy.
Each order has four attributes that together define the order completely:
- Order transaction type
- Order type
- Order code
- Order variety
For placing an order, all four attributes should be known precisely. To know more about these attributes, refer to the introduction to Chapter 6, Placing Regular Orders on the Exchange.
The recipes in this chapter...
