Entry market price type

When your signal does not have a price, TradersPost will fetch a quote from the broker and use the configured market price type from the strategy settings instead of using the price from the signal. By default, the Midpoint will be used. For example, if you have limit orders configured and you send a signal without a limitPrice, then TradersPost will use the the price from the quote.

{
    "ticker": "AAPL",
    "action": "buy",
    "orderType": "limit"
}

Or if you specify a limitPrice, then that value will be used.

{
    "ticker": "AAPL",
    "action": "buy",
    "orderType": "limit",
    "limitPrice": 100
}

If the broker you are using does not support quotes, such as Tradovate, then you must always send a price in your signal. For example, if you are using market orders and you are attaching a takeProfit and stopLoss to your entry order, then you must send a signalPrice in your signal to be used to calculate other prices based on your estimated entry price.

{
    "ticker": "AAPL",
    "action": "buy",
    "orderType": "market",
    "signalPrice": 100,
    "takeProfit": {
        "amount": 10
    },
    "stopLoss": {
        "type": "stop",
        "amount": 5
    }
}

In the above example, a takeProfit.limitPrice of $110 and a stopLoss.stopPrice of $95 will be calculated based on the signalPrice of $100.

You have the following options:

• Bid/Ask - Use the bid price for buys and the ask price for sells
• Bid - Use the bid price for all orders
• Ask - Use the ask price for all orders
• Last - Use the last price for all orders
• Midpoint - Use the midpoint of the bid and ask prices for all orders