The limit price acts as a price cap to prevent your order from being executed above or below a specified level.
Most destinations do not accept an offset. You must set the offset amount to 0 (or 0.00).
To create a pegged to midpoint order
- Click in the Ask Price field to initiate a BUY order, or the Bid Price field to initiate a SELL order.
- In the Dest field select a destination that supports Pegged to Midpoint orders, like IBKRATS.
- Click in the Type field and select PEG MID as the order type.