[Bug] Dollar-Based Buy Orders Incorrectly Set to Limit Order During Regular Market Hours

[hassan12-code]

When attempting to place a dollar-based buy order during regular market hours using the order_buy_fractional_by_price function, the order is incorrectly set as a limit order due to the preset_percent_limit parameter being added along with the type being set as limit. This behavior contradicts the expected functionality where dollar-based buy orders should be executed as market orders.

Steps to Reproduce:

Use the order_buy_fractional_by_price function to place a dollar-based buy order during regular market hours. Observe that the order is submitted as a limit order instead of a market order.

Expected Behavior:

Dollar-based buy orders should be executed as market orders when placed during regular market hours.

Actual Behavior:

Dollar-based buy orders are converted to limit orders during regular market hours due to the preset_percent_limit parameter and type being set as limit.

Relevant Code:

The issue lies in the order function:

if market_hours == 'regular_hours':
    if side == "buy":
        payload['preset_percent_limit'] = "0.05"
        payload['type'] = 'limit'

Suggested Fix:

Remove or conditionally set the preset_percent_limit and type to ensure dollar-based buy orders are processed as market orders:

if market_hours == 'regular_hours':
    if side == "buy":
        payload['type'] = 'market'

[BigFav]

Have you tried removing that code locally in your package manager?

The Robinhood API just broke when I tried, so I ended up adding it back.

[hassan12-code]

Have you tried removing that code locally in your package manager?

The Robinhood API just broke when I tried, so I ended up adding it back.

Yes, I tried modifying or even removing that code, but similar to your experience, I encountered an error, and the API broke for me as well.

[khulaid22]

I thought I was doing something wrong but turns out that this is a bug. It seems an important matter that requires quick fixing.

[BigFav]

Have you tried removing that code locally in your package manager? The Robinhood API just broke when I tried, so I ended up adding it back.

Yes, I tried modifying or even removing that code, but similar to your experience, I encountered an error, and the API broke for me as well.

Yeah, then your suggested fix seems to not work. There might be something going on with Robinhood here.

[hassan12-code]

Have you tried removing that code locally in your package manager? The Robinhood API just broke when I tried, so I ended up adding it back.

Yes, I tried modifying or even removing that code, but similar to your experience, I encountered an error, and the API broke for me as well.

Yeah, then your suggested fix seems to not work. There might be something going on with Robinhood here.

I totally agree, and apologies that I didn't mention that the proposed solution was giving errors. I just thought this might be a potential fix along with some other adjustments to address the error response from Robinhood.

[hassan12-code]

UPDATE (FIX):

I made the following changes to ensure that dollar-based buy orders are correctly processed as market orders during regular market hours:

1. New Parameters:

• Added isFractional and priceInDollars to handle fractional and dollar-based orders.

  def order(symbol, quantity, side, limitPrice=None, stopPrice=None, account_number=None, timeInForce='gtc', extendedHours=False, jsonify=True, market_hours='regular_hours', isFractional=False, priceInDollars = None):

2. Modified Payload for Buy Orders:

• For dollar-based buy orders during regular hours (if market_hours == 'regular_hours'):

  if side == "buy":
  payload['dollar_based_amount'] = {
      'amount': str(priceInDollars),
      'currency_code': 'USD'
  }
  del payload['price']
  del payload['quantity']
  del payload['extended_hours']

3. Cleanup for Market Orders:

• Removed stop_price when orderType == 'market' to prevent conflicts:

  del payload['stop_price']

4. Set json=True in POST call:

data = request_post(url, payload, json=True)

- Completed Order Function:

@login_required
def order(symbol, quantity, side, limitPrice=None, stopPrice=None, account_number=None, timeInForce='gtc', extendedHours=False, jsonify=True, market_hours='regular_hours', isFractional=False, priceInDollars = None):
    try:
        symbol = symbol.upper().strip()
    except AttributeError as message:
        print(message, file=get_output())
        return None

    orderType = "market"
    trigger = "immediate"

    if side == "buy":
        priceType = "ask_price"
    else:
        priceType = "bid_price"

    if limitPrice and stopPrice:
        price = round_price(limitPrice)
        stopPrice = round_price(stopPrice)
        orderType = "limit"
        trigger = "stop"
    elif limitPrice:
        price = round_price(limitPrice)
        orderType = "limit"
    elif stopPrice:
        stopPrice = round_price(stopPrice)
        if side == "buy":
            price = stopPrice
        else:
            price = None
        trigger = "stop"
    else:
        price = round_price(next(iter(get_latest_price(symbol, priceType, extendedHours)), 0.00))

    from datetime import datetime
    payload = {
        'account': load_account_profile(account_number=account_number, info='url'),
        'instrument': get_instruments_by_symbols(symbol, info='url')[0],
        'symbol': symbol,
        'price': price,
        'ask_price': str(round_price(next(iter(get_latest_price(symbol, "ask_price", extendedHours)), 0.00))),
        'bid_ask_timestamp': datetime.now().strftime('%Y-%m-%d %H:%M:%S.%f'),
        'bid_price': str(round_price(next(iter(get_latest_price(symbol, "bid_price", extendedHours)), 0.00))),
        'quantity': quantity,
        'ref_id': str(uuid4()),
        'type': orderType,
        'stop_price': stopPrice,
        'time_in_force': timeInForce,
        'trigger': trigger,
        'side': side,
        'market_hours': market_hours, # choices are ['regular_hours', 'all_day_hours']
        'extended_hours': extendedHours,
        'order_form_version': 4
    }

    # adjust market orders
    if orderType == 'market':
        del payload['stop_price']

    if market_hours == 'regular_hours':
        if side == "buy":
            payload['dollar_based_amount'] = {
                'amount': str(priceInDollars),
                'currency_code': 'USD'
            }
            del payload['price']
            del payload['quantity']
            del payload['extended_hours']
        # regular market sell
        elif orderType == 'market' and side == 'sell':
            del payload['price']
    elif market_hours == 'all_day_hours':
        payload['type'] = 'limit'
        payload['quantity']=int(payload['quantity']) # round to integer instead of fractional

    url = orders_url()
    data = request_post(url, payload, json=True)

    return(data)

- Order Buy Fractional By Price Function:

@login_required
def order_buy_fractional_by_price(symbol, amountInDollars, account_number=None, timeInForce='gfd', extendedHours=False, jsonify=True, market_hours='regular_hours'):
    if amountInDollars < 1:
        print("ERROR: Fractional share price should meet minimum 1.00.", file=get_output())
        return None

    # turn the money amount into decimal number of shares
    price = next(iter(get_latest_price(symbol, 'ask_price', extendedHours)), 0.00)
    fractional_shares = 0 if (price == 0.00) else round_price(amountInDollars/float(price))

    return order(symbol, fractional_shares, "buy", None, None, account_number, timeInForce, extendedHours, jsonify, market_hours, priceInDollars=amountInDollars)

Please note, these changes were a quick fix given my scenario; the code might be optimized further.