Quote from tradebanzai:
Thanks for the info.
And how does market-to-limit order acts? What price is being used for this order?
Consider this.
Lets say I'm watching some stock. In order to get prepared I create an order. Let's say, "buy 1 contract at limit price", but don't send it. At that time the ask was lets say 30 so the limit order also has the limit price 30. I just wait for some stock action. Then the stock begins to act in proper way (and lets say the ask is 31.15 now) and you need to send your order. What price do you have in your order that you prepared before? Right, 31.00, it haven't changed to 31.15. But the price has changed. So I want the limit price in my prepared order to change also to 31.15. And I don't want always click "Update limit prices" in order to do this. I want limit price in my prepared order always to be the same as the price of the stock.
