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How to Add (OCO One-Cancels-Other) Orders

Video Transcript

In this video, I want to take you through and show you how to place an OCO order through the order dialogue box. Very simply when we click the Order Dialogue Box button, to place an order, we drag it on the screen.

(You'll notice I'm using a Stop Order as the default). When I release the mouse button, it pops up the order dialogue box. Now, I can add OCO orders to the order as I'm placing it. Okay? So, I can come in here and hit Limit Order.

I'm going to come in and I'm going to say I want it to be 25 points above the market, and I'm going to hit a Stop order and I want that one to be 25 point below the market. I hit Okay. You'll notice that it automatically at the same time places all three orders on the screen.

I can of course move these outer lines, these outer orders to whatever level I want. Again, the OCO order is setup so that the master order must be filled first, before the other two orders become active. So, if this market continues to rally and touches our Stop order first, before the active order or the master order is hit first, this order will not fill.

Again, this order must fill first, the Master order must fill first, before the two outer orders, or the OCO orders become active. Once they become active you'll see them down in your Accounting Window, in your Pending Orders.

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