Auto Price
With the Auto Price feature, you can quickly place limit and/or orders that join, improve, split, shave, hit/take or hit/take+ the inside market (based on best bid or ask) without having to calculate a price. You can set the price increments that are available when you use this feature. You can also turn off the Auto Limit Price feature if you don't plan to use it.
The Auto Price feature is available for Equities, Options, and Futures only.
Using the Auto Price feature for Limit and Stop Limit Orders
- From the Trade Bar, select Limit or Stop Limit for the Order Type.
- Instead of entering a limit price in the Limit Price box, click Auto next to the Limit Price.
- Select the Auto price feature that you want to use. The increment may be changed by selecting Change Increment, then selecting a standard increment or Other to enter a custom increment.
Using the Auto Price feature for Stop Market Orders
- From the Trade Bar, select Stop Market for the Order Type. (Note that Auto Price is not available when the Order Type is Market.)
- Instead of entering a stop price in the Stop Price box, click Auto next to the Stop Price.
- Select the Auto price feature that you want to use. The increment may be changed by selecting Change Increment, then selecting a standard increment or Other to enter a custom increment.
Disabling the Auto Price Feature
- To set the Auto Price feature to off when an auto price is in use, click Auto next to Limit Price or Stop Price and select Auto Price Off from the shortcut menu. The check mark next to the menu item disappears, indicating that the feature is inactive.
Changing the Auto Price Increment Feature
- To change the price increment for the Auto Price feature, click Auto next to either the Limit Price or Stop Price and select Change Increment from the shortcut menu. Point to the increment that you want to use. A check mark appears next to the selected limit or stop change increment.
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