The only options for extended ours trading are buy and sell limit orders. Can we expect additional options in the future?
Market orders, trailing stops, etc?
@Taylor_Nichols Because of the nature of extended hours trading, market orders will probably not be supported any time soon. Most brokers only accept limit orders after hours. Stop limit orders could be an option but there are no immediate plans.
A confounding issue with after hour trading is that SEC Rule 611 of Regulation NMS doesn’t apply. There are no inter-market price protections after hours. There is nothing, for example, to prevent a stock from trading at $25 on one venue and $30 on another. Brokers have a fiduciary responsibility to make a best effort at getting the best price for clients. The potential for such disparate prices is the reason brokers require limit orders. The client at least will get the price they expected.
+1 to this feature, trailing stops or bracket orders in extended hours are very essential to some of the algorithm. Brokers like IB also support these orders. It’ll be great Alpaca can also support.