This code is from a video series on the YouTube channel @AndrewMagee01 which dives into how to place orders using the Ib_insync API wrapper.
Video 1 discusses how to place a basic buy and sell order
https://www.youtube.com/watch?v=uS4guClUUgE
Video 2 incorporates asynchronous functionality, which is a fancy term for multi-tasking. It will allow the user to simultaneously place orders for multiple tickers at once instead of waiting for the code to place them one at a time.
https://www.youtube.com/watch?v=speogkirda8
Video 3 brings it all together, discussing how to add checks to ensure only filled orders are closed, and how we can switch to market orders in situations where the limit order does not fill.