Can you edit an existing limit order?

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Can you edit an existing limit order?

posted

Hi All,

Let's say I buy a stock using a limit order:

order(stock, buy_amt, style=LimitOrder(price))

Later I can access this order with:

orders = get_open_orders(context, stock)  
order_ = orders[0]

My question is, how can I edit the limit price, or volume on this order?

Seems unlikely, but would changing the limit property have any effect (since I do not see any methods relating to editing the order):

order_.limit = 100

Or do I have to cancel it and then reorder at a new price or quantity?

4 responses

James Hutchison

cancel and reorder. this is how brokers implement the change. in fact, they cancel, wait for the confirmation, then make a new order.

Simon Thornington

To be clear, exchanges do offer atomic order replacement messages which updates existing orders' price/size/whatever.

James Hutchison

that was wrong of me to state without looking it up. i think i was in auto pilot on my cell phone, going off of my existing assumptions.

i would think orders that go out to multiple exchanges are not able to be atomic.

either way, i do not think there is a way to edit an order. i have not seen a version of the robinhood api that supports changing orders either.

James Hutchison

also in my Schwab account when it changes an order it cancels the old one and makes a new one with a new order number. I think that is why i thought what I did.

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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by Quantopian.

In addition, the material offers no opinion with respect to the suitability of any security or specific investment. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as none of Quantopian nor any of its affiliates is undertaking to provide investment advice, act as an adviser to any plan or entity subject to the Employee Retirement Income Security Act of 1974, as amended, individual retirement account or individual retirement annuity, or give advice in a fiduciary capacity with respect to the materials presented herein. If you are an individual retirement or other investor, contact your financial advisor or other fiduciary unrelated to Quantopian about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances. All investments involve risk, including loss of principal. Quantopian makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances.