What you will learn
- Partial fills
- Slippage
- Rejected orders
- Trade-history reconciliation
Partial fills
Review the order acknowledgement and final execution rather than inferring success from a button animation. Capture identifiers, requested size, filled size and remaining size. A rejected or partially filled order needs a different response from a complete fill.
Slippage
Positions aggregate exposure; order history describes instructions; deal or execution history records fills. Their counts need not match. One order can generate several executions, and several orders can contribute to one net position.
Rejected orders
Compare intended and actual price, quantity and timestamp. Slippage needs a specified reference price. A difference may reflect market movement, quote-side mismatch or delayed observation, so preserve the benchmark rather than assuming every difference is an error.
Trade-history reconciliation
Reconcile the resulting position and protection orders after each practice sequence. If state is uncertain, inspect the authoritative account state before sending another order. Repeating a click can duplicate exposure rather than repair the first request.
Worked example
An order requests five units and fills three. The remaining two are still working. Showing a three-unit position does not prove the order is finished; another fill could increase exposure unless the remainder is cancelled and acknowledged.
Try it yourself
Write the correct reconciliation for requested five, filled three, remaining two. State what must be checked before placing a replacement order.
Show the worked solution
Record three units of exposure and two units of working quantity. Check order status and any cancel acknowledgement, then calculate only the genuinely missing quantity. A new five-unit order could create excessive exposure.
Apply this to your course project
Record market, limit and stop-order exercises with cancelled and rejected examples.
Keep the calculation inputs, assumptions and decisions with your work. Practical exercises are self-reviewed; the scored knowledge checks assess the questions shown, not an independent certification of practical competence.