You can automatically update the limit price for an order (or all orders) to coincide with the ask, bid, midpoint, closing or last price.
Automatically update the limit price
On the Trade menu select Modify Multiple Orders.
Set update parameters:
Which orders - All selections apply only to orders on the active trading page. Specify whether to update attributes for:
All orders on the page - Including working orders, non-transmitted orders, etc
Open orders only - This includes all orders working on the current page.
Selected orders - This includes all orders (working or not) on the active page that you deliberately select.
Inactive orders - This includes all orders on the active page that are created but have not yet been transmitted.
Set Type and Time in Force
For the subset of orders specified above, instruct TWS to change to the selected order type, and to the selected time in force. Check Convert Market to Limit to have all market orders automatically changed to limit orders. Buy limit orders will use the Ask as the default limit price; sell limit orders will use the Bid as the default limit price.
Set Price Parameters
Define the update price parameters for Buy orders and include an offset amount if desired.
Set the update price parameters for Sell orders. If you check Mirror image of buy orders, parameters are set reversed from the Buy orders selections. The mirror images of Midpoint, Last and Close would be the negative values for each of these prices.
Validation
If one or more of the orders marked for update cannot be updated, the Validation selection checked here will be used.
