Order Type to offset current Net/Pos

Discussion in 'Order Execution' started by ValG, Feb 12, 2011.

  1. ValG


    Need an advice from experienced traders. Suppose your trading platform has a built-in functionality (like mouth click on Net/Pos field) to offset your current Long / Short Position by sending a Sell / Buy order to the Mkt for the Net Pos qty. What order type would you like to be generated: Mkt? - might be too dangerous, Limit? FOK, IOC ? Would you typicaly configure you trading system to generate Limit order equal to current best Ask/Bid ?
    It's clear that each order type will be used in different case, but which one is more suited to the (ALL) Futures and (Index) Options markets?

    I work in trading systems QA, so any knowledge from the "Field" will make our lives better :)