Superalgos - Limit Buy Order

Limit Buy Order

A limit order is an order to buy or sell a security at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.

Content

Traders usually use limit orders when the priority is the rate of execution over the certainty of execution. Limit orders are much more efficient than market orders in terms of rate, particularly for larger sizes which—when executed as market orders—may suffer considerable slippage filled as fast as possible with the order book of the particular instant.

Also, many exchanges regard limit orders as market makers, that is, orders that bring liquidity to the market, and, therefore, may charge relatively better fees.

Limit Order Rate

Superalgos users must define the rate at wish they wish the order to be filled. The exchange is responsible for not filling the order unless it can match it with bids/asks at the rate set by the user, or at a better rate.

Small discrepancies between the actual rate and the order rate are to be expected, as not all exchanges handle decimals and other conversions involving, for example, fees, in the same manner.

Note: Limit orders must define a rate using the appropriate child node, otherwise, the target rate defined as an initial target is used. If no rate is defined at all, the system stops with an error upon execution. The configuration of the order deals with the size.

Tip: Please read the definition of for relevant information about how orders in general work, in particular, the sections about Order , Filling, Closing, and Spawning Multiple .

Configuring

Limit Buy Order Configuration

Properties

percentageOfAlgorithmSize is the definition of how much of the size handled by the algorithm shall be allocated to this particular order. Posible values are real numbers between 0 and 100, including the extremes. If you set the value to 0, the order will not be executed.

spawnMultipleOrders is the parameter that indicates whether additional spawned orders are allowed (true) or not (false).

orderParams allow the user to add additional parameters to the order like for example if it's a reduce only order.

Example:

 {
    "percentageOfAlgorithmSize": 100,
    "spawnMultipleOrders": false,
    "orderParams": {
        "reduce_only": true
    }
}

Initial Values

These are the Initial Values for Limit Buy Order configuration:

 {
    "percentageOfAlgorithmSize": 100,
    "spawnMultipleOrders": false
}

Examples

This is a list of properties featured by the Limit Buy Order configuration. Expanding a property shows sample values for the property extracted from the current .

Limit Buy Order Menu

The Limit Buy Order node has the following items:

The Configure menu item has the following properties:

action: Configure

actionFunction: uiObject.configEditor.activate

label: Configure

iconPathOn: configuration

iconPathOff: configuration

The Add Formula menu item has the following properties:

action: Add UI Object

disableIfPropertyIsDefined: true

propertyToCheckFor: formula

label: Add Formula

relatedUiObject: Formula

actionFunction: payload.executeAction

actionProject: Visual-Scripting

relatedUiObjectProject: Foundations

The Add Order Rate menu item has the following properties:

action: Add UI Object

disableIfPropertyIsDefined: true

propertyToCheckFor: orderRate

label: Add Order Rate

relatedUiObject: Order Rate

actionFunction: payload.executeAction

actionProject: Visual-Scripting

relatedUiObjectProject: Foundations

The Add Create Order Event menu item has the following properties:

action: Add UI Object

disableIfPropertyIsDefined: true

propertyToCheckFor: createOrderEvent

label: Add Create Order Event

relatedUiObject: Create Order Event

actionFunction: payload.executeAction

actionProject: Visual-Scripting

relatedUiObjectProject: Foundations

The Add Cancel Order Event menu item has the following properties:

action: Add UI Object

disableIfPropertyIsDefined: true

propertyToCheckFor: cancelOrderEvent

label: Add Cancel Order Event

relatedUiObject: Cancel Order Event

actionFunction: payload.executeAction

actionProject: Visual-Scripting

relatedUiObjectProject: Foundations

The Add Simulated Events menu item has the following properties:

action: Add UI Object

disableIfPropertyIsDefined: true

propertyToCheckFor: simulatedExchangeEvents

label: Add Simulated Events

relatedUiObject: Simulated Exchange Events

actionFunction: payload.executeAction

actionProject: Visual-Scripting

relatedUiObjectProject: Foundations

The Delete menu item has the following properties:

action: Delete UI Object

actionProject: Visual-Scripting

askConfirmation: true

confirmationLabel: Confirm to Delete

label: Delete

iconPathOn: delete-entity

iconPathOff: delete-entity

actionFunction: payload.executeAction

Tip: When a menu item is grayed out, it means that Limit Buy Order already has the required child type that the menu item may add, and only that child is allowed for that case.

Limit Buy Order Children

The Limit Buy Order node has the following childrenNodesProperties: