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What is a Close Range order and how do I place it?

A Close Range order functions exactly like an Close Market order with the added benefit of allowing traders to set an “acceptable” range at which they would like to be filled. Close range orders are ideal for limiting negative slippage.

To place a Close Range order in Trading Station, please follow the steps below:

  1. From the Summary tab right click the desired symbol you wish to close.
  2. Select Close Position.
  3. In the Close Position Menu choose Order Type as Market Range.
  4. Enter a desired range greater than 0.
  5. In Time in Force select either IOC or FOK.
  6. Click OK