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How to Code a Discretionary Order in Java

Java API

A Discretionary Order works as a limit order submitted to the exchange with a hidden, specified amount off the limit price. Visit our Discretionary Orders web page to understand the mechanics behind this order type. It is important to note that the market sees only the limit price.

Let’s refer to our GitHub Guide and learn how to code it using this syntax:

Order order = new Order();
order.action(action);
order.orderType(“LMT”);
order.totalQuantity(quantity);
order.lmtPrice(price);
order.discretionaryAmt(discretionaryAmt);

The products supported via this order are: stocks.

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

Always remember to test your algo trading app in a simulated environment first! To join today, sign up for our Free Trial.

Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

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