altilly Order Optionsaltilly offers several options when you are creating a new order. This page will attempt to explain what each option means for those users unfamiliar with some of the terminology.
Order TypeThere are two types of orders. The default is limit.
"Limit" - The order execute at the price (Limit price) that you have selected. This is the default and is what most people should use.
"Market" - The order will execute at the best market price for the quantity you want to buy or sell. Best market price is what is currently available on the order books and may be significantly different in price for larger quantities.
Time In ForceThis represents how long you would like the order to remain active.
Good-til-Cancelled (GTC) - The order will remain active until it is either filled or you manually cancel it.
Immediate-or-Cancel (IOC) - Only fill part of the order if it can be done immediately, and cancel any remaining part of the order that is not immediately filled.
Fill-or-Kill (FOK) - If the order cannot be immediately and completely filled, then do not fill any part of the order and cancel it immediately.
Day (Day) - The order will remain active until the of the day (UTC Midnight). At midnight, any remaining part of the order will be cancelled.
Good-til-Date (GTD) - The order will remain active until the date and time selected. At the selected day/time, any remaining part of the order will be cancelled.