DAS Order Types, Routes, Price Fields and TIF
Read limit, stop, trailing, peg and range specifications without conflating their fields.
Four independent questions
Prerequisite: explicit and V2 order construction. Type asks how an order behaves; Route asks where it is handled; price fields configure that behavior; TIF asks when it remains eligible. None is a substitute for the others. This chapter teaches order specifications with draft objects and code-reading examples, not a recommendation to select an order for a trade.
Type and price map
| Type | Short form | What to resolve |
|---|---|---|
| Market | M / MKT / MARKET | No limit-price protection; route and session support |
| Limit | L / LMT / LIMIT | Limit price and valid price increments |
| Stop market | SM | Trigger price, then market-style execution |
| Stop limit | SL | Trigger price first, limit price second |
| Extended-session stop limit | SLP | Broker enablement and actual session support |
| Trailing | TL / TS / TRAILING | Absolute distance versus a % token |
| Peg | P / PEG | Strategy such as MID and a route supporting it |
| Range / Range market | RG / RGM | Two price roles; source conflict must be resolved |
These are parser aliases from the reviewed document. A syntactically accepted order can still be rejected by the account or destination.
Compare two unsent specifications
$feLimitDraft = NewOrderObj("B 10 MSFT LIMIT L 25.00 D");
$feLimitDraft.Account = "TR_PRACTICE";
$feLimitDraft.ShowObject();
$feStopLimitDraft = NewOrderObj("B 10 MSFT SL 25.00 25.10 D");
$feStopLimitDraft.Account = "TR_PRACTICE";
$feStopLimitDraft.ShowObject();
What changed between the drafts?
The first contains a limit price. The second contains a trigger and a limit, in that order in the short form. The STOP route is a documented default for stop types; inspect the resolved route rather than assuming the first draft’s route carries over. These hypothetical drafts do not call Send. A stop-limit order becoming triggered does not imply its limit condition will allow execution. A trailing token 0.50 describes a different unit from 0.50%.
TIF and session eligibility
The guide lists DAY, DAY+, AtOpen, AtClose, FOC, IOC, GTC and GTC+ with short-form aliases. DAY+ does not by itself enable every type outside regular hours. SLP needs broker enablement in the reviewed source, and Peg requires a supporting route. FOC is the spelling in the source; do not silently replace it with a similarly named industry term. Document the exact accepted token and returned property in your build.
Conflicts are part of the lesson
V2 page 4 labels some examples Sell but uses B in the code. Page 5 states one Range price ordering while its examples appear to show the opposite ordering. This course does not publish a guessed correction as an executable recipe. Use the current Script Builder and object inspection to establish the roles, then verify a bounded simulator example. See the compatibility and errata chapter for the precise evidence.
Exercise and worked answer
Why is changing DAY to DAY+ insufficient to prove an extended-hours stop works? Answer: eligibility depends on order type, broker enablement, route, session and destination behavior as well as TIF. Fill out those five fields before checking actual simulator acknowledgement. Record a rejection as a specific capability result rather than changing unrelated price fields at random.