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<< Click to Display Table of Contents >> Using OnOrderUpdate() and OnExecution() methods to submit protective orders |
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Using OnOrderUpdate() and OnExecution() methods to submit protective orders
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<< Click to Display Table of Contents >> Using OnOrderUpdate() and OnExecution() methods to submit protective orders |
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The OnOrderUpdate() and OnExecutionUpdate() methods are reserved for experienced programmers.
Instead of using Set() methods to submit stop-loss and profit target orders, you can submit and update them manually through the use of Order and Execution objects in the OnOrderUpdate() and OnExecutionUpdate() methods.
The OnOrderUpdate() method is updated whenever the state of an order changes which allows you to submit and control your stop-loss and profit target orders the instant your entry order is filled.
The OnExecutionUpdate() method is updated whenever you receive an execution or a fill on your orders. This method provides you the fastest possible submission of protective orders. Utilizing the increased granularity provided in these advanced methods can be advantageous to you by providing you with maximum control of how your stop-loss and profit target orders behave.
•Submitting live-until-cancelled entry orders
•Modifying stop-loss order to breakeven after a certain amount in profit
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