Precautionary values are used by the system as safety checks. If you submit an order that violates any of these custom settings, you will have to confirm your intent to transmit the order before TWS submits it.
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Field Name
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Description
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Notes
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Percentage
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This option was created as a safety net to prevent you from transmitting a limit order that has a mistyped limit price. If you attempt to transmit a limit order with a price outside of this calculated percent off the market price, you will receive a message asking you to verify that you meant to enter that off-percentage price before it will transmit the order. The market price used is the price displayed in either the bid (sell) or ask (buy) field at the time you transmit the order. This option can be left blank.
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Total Value Limit
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If you transmit an order with a price that exceeds the total dollar amount you specify, you will receive a message informing you that the Total Value constraint has been violated, and you must confirm that you want to submit the order regardless.
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Size Limit
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Limits the value in the Quantity field. If you enter a higher value, you can override the default size limit by clicking Yes in the warning box.
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Number of Ticks
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Like the Percentage option above, number of ticks is also a safety net to prevent you from transmitting a limit order that has a mistyped limit price. If you attempt to transmit a limit order with a price outside of this calculated number of ticks off the market price, you will get a message asking you to verify that you meant to enter the off-percentage price before it will transmit the order. The market price used is the price displayed in either the bid (sell) or ask (buy) field at the time you transmit the order. This option can be left blank.
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Algorithm Total Value Limit
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If you transmit an algo order with a price that exceeds the total dollar amount you specify, you will receive a message informing you that the Total Value constraint has been violated, and you must confirm that you want to submit the order regardless.
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Enter “0” to disable the limit.
If you do not enter a value, the algo value limit defaults to the Total Value Limit (above) x 10.
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Algorithm Size Limit
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Limits the value in the Quantity field for algo orders. If you enter a higher value, you can override the default size limit by clicking Yes in the warning box.
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Enter “0” to disable the limit.
If you do not enter a value, the algo size limit defaults to the Size Limit (above)x 10.
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