Order management
ALOR Broker trading system gives the possibility to manage orders via API. You can use HTTP API and WebSocket API for this task.
There is no one-size-fits-all interaction method: HTTP API is easier to use, while WebSocket API provides a small increase in data exchange speed (up to 5 ms).
Order management means the following actions:
- Posting
- Modifying
- Canceling
You can also view previously created orders through the API, but this type of request belongs to the Receive data category and is therefore not mentioned in this list.
The following types of orders can be interacted with via API:
- Exchange orders which are orders transmitted directly to the exchange. They include market and limit orders. Exchange orders are visible to all traders from the moment they are posted and are subject to all requirements and limitations imposed by the Exchange.
- Conditional orders which are orders created and stored on the Broker servers until fulfillment. They include all stop orders, which, when triggered, must pass an exchange order to make a trade. For example, take profit and stop loss orders and their variations. Conditional orders are not visible to other traders and do not exist for the Exchange.
Activation of a Conditional Order leads to the publication of an Exchange Order. This means that both orders must be adequate to current market conditions and exchange requirements.
For partial trading process automation we recommended to combine orders into groups. This allows combining fulfillment of some orders with other orders and building trade scenarios with minimal losses.