Market Orders, Limit Orders and Bid/Ask

Practise selecting order types, quantities and execution prices in a paper trading terminal.

Understand the idea.

A market order seeks an immediate fill at the available side of the quote. In this paper engine a buy uses ask and a sell uses bid, provided the quote is fresh and tradable. A limit order specifies the highest buy price or lowest sell price you accept. It can remain pending rather than execute immediately. BOOSTRO currently does not automatically match a pending limit order against later quotes; cancel or review these orders explicitly. Lot size controls valid quantity multiples for derivatives. Check the contract, side, quantity, price and estimated charges before submitting. Never assume last traded price is the price at which your order will fill.

Practice checklist

• Check bid and ask
• Respect lot-size multiples
• Review pending orders