Module: IB::MarketIfTouched

Extended by:
OrderPrototype
Defined in:
lib/ib/order_prototypes/market.rb

Class Method Summary collapse

Methods included from OrderPrototype

aliases, alternative_parameters, defaults, optional, order, parameters, requirements

Class Method Details

.aliases ⇒ Object 



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# File 'lib/ib/order_prototypes/market.rb', line 39

def aliases
	super 
end

.defaults ⇒ Object 



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# File 'lib/ib/order_prototypes/market.rb', line 35

def defaults
	  super.merge order_type: 'MIT' , tif: :day
end

.requirements ⇒ Object 



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# File 'lib/ib/order_prototypes/market.rb', line 43

def requirements
	super 
end

.summary ⇒ Object 



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# File 'lib/ib/order_prototypes/market.rb', line 48

def summary
	<<-HERE
	A Market if Touched (MIT) is an order to buy (or sell) a contract below (or above) the market.
	Its purpose is to take advantage of sudden or unexpected changes in share or other prices and
	rovides investors with a trigger price to set an order in motion.
	Investors may be waiting for excessive strength (or weakness) to cease, which might be represented
	by a specific price point.
	MIT orders can be used to determine whether or not to enter the market once a specific price level 
	has been achieved. This order is held in the system until the trigger price is touched, and
	is then submitted as a market order. An MIT order is similar to a stop order, except that an MIT 
	sell order is placed above the current market price, and a stop sell order is placed below.
	HERE
end