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Date/Time: Thu, 02 May 2024 12:09:17 +0000

[User Discussion] - Limit Chase - move based on bid/offer change rather than last price change?

[2020-02-02 09:23:39] #1 [Go To First Post]
T44 - Posts: 363
After the order is submitted, and the last trade price rises in the case of a Buy order, then the order is adjusted up by the amount the last trade price increased by, no more than the specified Set >> Max Chase for Chase Limit Orders amount. The behavior I experience, in line with the documentation above: #1. market trades at bid price #2. place limit chase at the current bid #3. market trades at ask #4. limit chase crosses the spread and fills at the ask Ideally, at #3 above, the limit chase remains in the queue at the bid price as it may have good queue position. It should only move up by 1 tick if the ask price trades out and becomes the new best bid. Could this be added as a feature - or with the current ACSIL is it possible to program an order type with this characteristic? i.e. stays pinned to the best bid/ask (or whatever offset from the inside market I choose).

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