What are the different types of orders which can be given in the MCX Trader Work Station(TWS)?
Orders in the MCX TWS can be submitted based on price related conditions or time related conditions or both. Price related orders can further be classified as limit orders, market orders and stop loss orders while time related orders are day orders, good-till-date orders, good-till-cancelled orders and immediate or cancel order. How are the orders executed by the trading system? In the TWS of MCX, the best buy order (which is the highest bid price) is matched with the best sell order (with the lowest offer price) on price-time priority basis. What is the difference between limit order and market order? A limit order enables you to specify the price below or above which the buy or sell trade will be executed. On the other hand, market order will be executed at the prevailing market price on the submission of such order. If no trade takes place at the time of submission, the trading system takes the last traded price as the market order and the order remains in the system. What is the me
