In This Chapter
Looking at the standard order types
Recognising orders in the book
Choosing the right order for you
Perusing the advanced standard order types
Knowing how to place an order and, more importantly, knowing what type of order you should be placing in the market are important pieces of information to have when investing in dark pools. Order types can be categorised in two ways:
Each type of standard order is treated differently when it enters the market and each order affects the order book in different ways. If you happen to be using the wrong type of order, it can be costly to you in terms of either paying a higher price than you expected to, selling at a lower price than you hoped, missing the trade completely or just getting a partial fill.
There are only a handful of traditional order types and all special order types are derived from the traditional ones. The traditional ...