- An Introduction to Forex (FX)
- How can I remove a canceled order that is stuck on my screen in pink status?
- What is an "Odd Lot" in stocks?
- I'm receiving error messages regarding Active Order Limits, what does that mean?
- Why is my Stop Limit Order for Globex listed futures contracts generating an error message regarding the price?
Is my order suspended or deactivated while I am modifying it?
Overview:
The order is not temporarily suspended while you modify the price or any other parameters of the order. The order is still active at the exchange if it has already been sent there. You do run the risk of being filled on the original order until the modified order has been sent to, and accepted by, the exchange. Only at that point are the previous order dead and the modified order working.
Background:
In the Trader Workstation you have the option of deactivating the working order while you modify. Once an order has been transmitted and before being filled, you can right-click on the order line and select “Deactivate” in the drop-down menu. This will deactivate the order while you make modifications.
If you want to modify parameters other than Price or Quantity of an order in the TWS, you must cancel the working order and create and transmit a new order. This practice is commonly required by order destinations.
Once an order parameter is modified, you are required to resubmit the order. The modification will not take effect until the order is resubmitted.