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Page 65
Order Types and Durations
Order Types
Type
Description
Bracket
A bracket order is a type of order-places-order (OPO)
where filling an order triggers a profit target order and
a stop loss order OCO.
DOM-Triggered Stop
A market order that is triggered only when the inside
market bid/ask quantity falls below the order’s trigger
level.
DOM-Triggered Stop Limit
A limit order that is triggered only when the inside
market bid/ask quantity falls below the order’s trigger
level.
DOM-Triggered Trailing Stop
The DOM-triggered trailing stop combines the features
of a DOM-triggered stop and a trailing stop. The stop
is triggered when the market trades at the stop price
and the resting volume in the order queue drops
below a trader-set threshold. Then a market order is
placed. The Sell DOM-triggered stop will automatically
follow the market higher as the market advances, but
not retrace if the market trades lower. The Buy DOMtriggered stop will automatically follow the market
down as the market declines, but not move higher if
the market trades up.
DOM-Triggered Trailing Stop Limit
The DOM-triggered trailing stop limit combines the
features of a DOM-triggered stop limit and a trailing
stop limit. The stop is triggered when the market
trades at the stop price and the resting volume in the
order queue drops below a trader-set threshold. Then
a limit order is placed. The Sell DOM-triggered stop
limit will automatically follow the market higher as the
market advances, but not retrace if the market trades
lower. The Buy DOM-triggered stop limit will
automatically follow the market down as the market
declines, but not move higher if the market trades up.
Iceberg
A limit day order that has both a total quantity and a
display quantity that is shown publicly on the order
book.
Limit
An order at a specified price.
Market
An order at the best available current price.
Order-Cancels-Order
An OCO is a multi-part order. If one part of the order
is executed, then all other parts are cancelled.
Stop
A market order that is triggered when the stop price is
hit.
CQG Trader User Guide