Order Types

ZeroLine Trader provides following order types:

The LMT, MKT, STP and STPLMT order types are supported by the broker.

The RATIO_MKT, RATIO_LMT, ZMKT, ZSTP and ZSTPLMT order types are supported by the ZeroLine Trader. ZeroLine Trader determines the triggering mechanism of these order types.

RATIO_MKT/RATIO_LMT

ZMKT

ZeroLine Trader converts a ZMKT order to a limit order with the limit price which is offset from the current market in the direction of the order action.
For example, if the current bid/ask is 1000.00/1000.25, a buy ZMKT order will be converted to a buy LMT order with price at 1005.25 (1000.25+20*0.25=1005.25; 20 is the offset ticks). And a sell ZMKT order will be converted to a sell LMT order with price at 1996.00(1000.00-20*0.25=1996.00).

When ZMKT is selected the order type for Close action and if there are target order, it modifies the closest target order to close the position instead of generating a new order.

ZSTP

The triggering mechanism of ZSTP is handled by ZeroLine Trader software on your local machine.

For a buy ZSTP order, if there is a last price equal to or higher than the aux price or if the bid price is equal to or higher than the aux price, it is converted to a buy MKT order.

For a sell ZSTP order, if there is a last price equal to or lower than the aux price or if the bid price is equal to or lower than the aux price, it is converted to a sell MKT order.

ZSTPLMT

The triggering mechanism of ZSTPLMT is handled by ZeroLine Trader software on your local machine.

For a buy ZSTPLMT order, if there is a last price equal to or higher than the aux price or if the bid price is equal to or higher than the aux price, it is converted to a buy LMT order at its lmt price.

For a sell ZSTPLMT order, if there is a last price equal to or lower than the aux price or if the bid price is equal to or lower than the aux price, it is converted to a sell LMT order at its lmt price.