Coding Market and Limit Orders in Python

The Market order type is an order to buy or sell at the market bid or offer price. The supported products via our Trader Workstation API are: BOND,  EFP, CASH, FUND, FUT, FOP, OPT, STK, WAR . Below is an example on how to code it in Python:

    @staticmethod

    def MarketOrder(action:str, quantity:float):
        #! [market]
        order = Order()
        order.action = action
        order.orderType = “MKT”
        order.totalQuantity = quantity
        #! [market]
        return order

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Limit order is an order to buy or sell at a specified price or better. The supported products via our Trader Workstation API are: BOND, CASH, FUT, FOP, OPT, STK, WAR. Below is an example on how to code it in Python:

    @staticmethod

    def LimitOrder(action:str, quantity:float, limitPrice:float):
        # ! [limitorder]

        order = Order()
        order.action = action
        order.orderType = “LMT”
        order.totalQuantity = quantity
        order.lmtPrice = limitPrice
        # ! [limitorder]
        return order

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Visit our GitHub guide to download the API sample Testbed, and review the Python code for other order types, such as Stop or Stop Loss order: http://interactivebrokers.github.io/

The sample syntax is in the OrderSamples.py file.

If you are interested in what else our GitHub can offer, see this article on building data science and algo trading skills:
https://www.tradersinsight.news/ibkr-quant-news/github-algo-trading-data-science/

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