Types of Orders

Futures orders may be placed by selecting the Buy/Sell Place Order button found in the Accounting Tools toolbar.

Market Order (MKT): A market order does not specify a price; it is executed at the best possible price available. Track 'n Trade fills these orders at the opening price of the next day's trading.

Stop Order (STP): Stop orders to buy are placed above the market price; stop orders to sell are placed below the market price. A stop order becomes a filled market order when the specified price is reached. Track 'n Trade fills these orders when that price is within the trading range for the given day.

Limit Order (LMT): Limit orders to buy are placed below the market price; limit orders to sell are placed above the market price. A limit order becomes a filled market order when the specified price is passed through. Track 'n Trade fills limit orders when the market trades BETTER than the limit price for the given day.

Market If Touched (MIT): Similar to limit orders, MIT orders to buy are placed below the market price; MIT orders to sell are placed above the current price. MIT orders fill once the MIT price is touched or passed through. Track 'n Trade fills MIT orders when that price is within the trading range for the given day.

Market On Close (MOC): Market On Close orders fill during the final minutes of trading at whatever price is available. Track 'n Trade fills these orders at the closing price of the next day's trading.

Market On Open (MOO): Market On Open orders fill during the opening range of trading at the best possible price obtainable within the opening range. Track 'n Trade fills these orders at the opening price of the next day's trading.

Good 'Til Cancelled (GTC): An order that is Good 'Til Cancelled (GTC) is pending until it is either canceled by the client or filled. Track 'n Trade evaluates whether to fill a GTC order every day from the day the order was placed. If a non-GTC order is canceled, simply delete it from Track 'n Trade if you wish.