In this lesson we discuss how orders can be placed, monitored, modified, and cancelled from the TWS API. To demonstrate the essential components necessary to place an order, a simple Python program is introduced which places an AAPL order to a paper account, and then prints order status messages to the console. Important topics associated with placing and monitoring orders from the API, including the master client ID, the Order Efficiency Ratio (OER), and the API maximum message rate are introduced. Finally, we address a few special cases in which commissions and fees are different for API orders than for orders created directly in an IBKR trading application. Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.
For entire course: ibkr.com/ibta
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