Discretionary Orders

Description

A Discretionary order is a limit order for which you define an amount off the limit price (for example $.20) to increase the price range over which the limit order is eligible to execute.

TWS Links

For information on how to create discretionary orders, please refer to the TWS User's Guide.

Example

If you transmit an order with a limit price of $50.00 and a discretionary amount set to $.20, a buy (sell) order is eligible to execute at any price from $50.00 to $50.20 ($49.80 to $50.00).