schwabr (version 0.1.3)

schwab_placeOrder: Place Order for a specific account

Description

Place trades through the SchwabAPI using a range of parameters

Usage

schwab_placeOrder(
  account_number,
  ticker,
  quantity,
  instruction,
  orderType = "MARKET",
  limitPrice = NULL,
  stopPrice = NULL,
  assetType = c("EQUITY", "OPTION"),
  session = "NORMAL",
  duration = "DAY",
  stopPriceBasis = NULL,
  stopPriceType = NULL,
  stopPriceOffset = NULL,
  accessTokenList = NULL
)

Value

the trade id, account id, and other order details

Arguments

account_number

A Schwab account number associated with the Access Token

ticker

a valid Equity/ETF or option. If needed, use schwab_symbolDetail to confirm. This should be a ticker/symbol, not a CUSIP

quantity

the number of shares to be bought or sold. Must be an integer.

instruction

Equity instructions include 'BUY', 'SELL', 'BUY_TO_COVER', or 'SELL_SHORT'. Options instructions include 'BUY_TO_OPEN', 'BUY_TO_CLOSE', 'SELL_TO_OPEN', or 'SELL_TO_CLOSE'

orderType

MARKET, LIMIT (requiring limitPrice), STOP (requiring stopPrice), STOP_LIMIT, TRAILING_STOP (requiring stopPriceBasis, stopPriceType, stopPriceOffset)

limitPrice

the limit price for a LIMIT or STOP_LIMIT order

stopPrice

the stop price for a STOP or STOP_LIMIT order

assetType

EQUITY or OPTION. No other asset types are available at this time. EQUITY is the default.

session

NORMAL for normal market hours, AM or PM for extended market hours

duration

how long will the trade stay open without a fill: DAY, GOOD_TILL_CANCEL, FILL_OR_KILL

stopPriceBasis

LAST, BID, or ASK which is the basis for a STOP, STOP_LIMIT, or TRAILING_STOP

stopPriceType

the link to the stopPriceBasis. VALUE for dollar difference or PERCENT for a percentage offset from the price basis

stopPriceOffset

an integer that indicates the offset used for the stopPriceType, 10 and PERCENT is a 10 percent offset from the current price basis. 5 and VALUE is a 5 dollar offset from the current price basis

accessTokenList

A valid Access Token must be set using the output from schwab_auth3_accessToken. The most recent Access Token will be used by default unless one is manually passed into the function.

Warning

TRADES THAT ARE SUCCESSFULLY ENTERED WILL BE SUBMITTED IMMEDIATELY THERE IS NO REVIEW PROCESS. THIS FUNCTION HAS HUNDREDS OF POTENTIAL COMBINATIONS AND ONLY A HANDFUL HAVE BEEN TESTED. IT IS STRONGLY RECOMMENDED TO TEST THE DESIRED ORDER ON A VERY SMALL QUANTITY WITH LITTLE MONEY AT STAKE. ANOTHER OPTION IS TO USE LIMIT ORDERS FAR FROM THE CURRENT PRICE. TD AMERITRADE HAS THEIR OWN ERROR HANDLING BUT IF A SUCCESSFUL COMBINATION IS ENTERED IT COULD BE EXECUTED IMMEDIATELY. DOUBLE CHECK ALL ENTRIES BEFORE SUBMITTING.

Details

A valid account and access token must be passed. An access token will be passed by default when schwab_auth3_accessToken is executed successfully and the token has not expired, which occurs after 30 minutes. Only simple orders using equities and options can be traded at through this function at this time. This function is built to allow a single trade submission. More complex trades can be executed through the API, but a custom function or submission will need to be constructed. To build more custom trading strategies, reference the 'Schwab API' examples. A full list of the input parameters and details can be found in the documentation. TEST ALL ORDERS FIRST WITH SMALL DOLLAR AMOUNTS!!!

A minimum of four parameters are required for submission: ticker, instruction, quantity, and account number associated with the Access Token. The following parameters default: session - NORMAL, duration - DAY, asset type - EQUITY, and order type - MARKET

Examples

if (FALSE) {

# Get stored refresh token
refreshToken = readRDS('/secure/location/')

# generate a new access token
accessTokenList = schwab_auth3_accessToken('AppKey', 'AppSecret', refreshToken)

# Set Account Number
account_number = 1234567890

# Standard market buy order
# Every order must have at least these 4 paramters
schwab_placeOrder(account_number = account_number,
                  ticker = 'AAPL',
                  quantity = 1,
                  instruction = 'buy')

# Stop limit order - good until canceled
schwab_placeOrder(account_number = account_number,
            ticker = 'AAPL',
            quantity = 1,
            instruction = 'sell',
            duration = 'good_till_cancel',
            orderType = 'stop_limit',
            limitPrice = 98,
            stopPrice = 100)

# Trailing Stop Order
schwab_placeOrder(account_number = account_number,
            ticker='AAPL',
            quantity = 1,
            instruction='sell',
            orderType = 'trailing_stop',
            stopPriceBasis = 'BID',
            stopPriceType = 'percent',
            stopPriceOffset = 10)

# Option Order with a limit price

}