The Entry MIT order is either a conditional market or limit order to open a position; its condition is a trigger price and its primary purpose is to relax the constraint on the execution price once the market level has triggered the entry order. The constraint on the execution price can be placed still by setting a zero slippage value; in such case, the entry MIT order is strictly equal to an entry limit order.

The MIT order can be used to open, reduce, or increase an exposure.

Facility Trailing & OCO

Parameters

Amount: The amount of the order to execute, defined by the trader. The default amount value, as well as the unit, are set in the preferences and can be modified upon order creation and as long as the order is in the pending status.

Slippage: The maximum amount of deviation allowed for execution relative to the trigger price when the order is triggered and sent for execution, defined by the trader. The default value is the value set in the preferences and can be modified upon order creation, and as long as the order is in the pending status. Any slippage value defines a limit for the execution price relative to the trigger price. If the slippage value is set to zero, the limit is equal to the trigger price.

Parameters Trailing

Messaging

Processing

MIT Entry Buy

Buy limit = trigger

Conditional entry window Entry MIT buy order with slippage zero

09:20:52 Order ACCEPTED: #38075511 ENTRY BUY 0.5 mil. NZD/JPY @ LIMIT 55 IF ASK <= 55 - Position #8992355 
09:20:51 Order sent: ENTRY BUY 0.5 mil. NZD/JPY @ LIMIT 55 IF ASK <= 55 
09:20:51 Sending order: ENTRY BUY 0.5 mil. NZD/JPY @ LIMIT 55 IF ASK <= 55 

Buy limit = trigger price + slippage value

Conditional order window Entry MIT buy order with a slippage value

09:26:42 Order ACCEPTED: #38075677 MIT BUY 0.5 mil. NZD/JPY @ LIMIT 55.1 IF ASK <= 55 - Position #8992401 
09:26:41 Order sent: MIT BUY 0.5 mil. NZD/JPY @ LIMIT 55.1 IF ASK <= 55 
09:26:41 Sending order: MIT BUY 0.5 mil. NZD/JPY @ LIMIT 55.1 IF ASK <= 55 

MIT Entry Sell

Execution Process

Margin Requirements

The margin requirements for an entry MIT order, are calculated when the order is sent for execution.