FOK = FILL OR KILL
Fill or Kill (FOK) or known as fill or kill, we often encounter this on trading platforms whose function is to forward our transaction order information to be instructed to fill it or kill it immediately, the purpose of killing in a transaction order is to cancel the order / order cancellation.
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The task is so that from the trader's side it can be used as a benchmark in position orders that are forwarded by brokers/brokers where we place orders for the instruments that we do starting from stocks, forex, gold and other investment commodities.
The concept is:
An order can be given in full to the broker with a note that the execution duration is fast or not filled can be canceled as soon as possible.
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FOK is an instruction to anticipate all forms of problems with price conditions and orders placed.
FOK assigns precision conditions to orders placed if they do not match then they may not be executed.
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FOK is applied if you have a large investment amount, the aim is to avoid price problems such as hectic conditions which are considered detrimental to investors, FOK is also available on the stock platform so that it can provide adequate facilities in terms of precision price execution.
Mr. Joko is a reliable trader, he applies FOK to transactions in GBPUSD currency applies a buy option at a price of 10000 with a lot of 1 USD, for example the price is not right then the order will be killed otherwise if it is right then the order must be right at the price of 1000 earlier.
This FOK is an option to confirm to the broker or broker to be able to execute according to the order otherwise if it is not correct then the order must be canceled without