Oco

[Ciao]

hello
does somebody deal with “OCO (one cancel the other)
on my new platform I can trade OCO direct from the chart

I was wandering if any of you experiences trader could explain it simply and better
(an example would be appreciated)

thanks

[zekthecat]

Good question... I will look up some information about it. These are just the kind of questions that will help everyone out. Keep them coming.

[zekthecat]

One-Cancels-the-Other Order - OCO

An order stipulating that if one part of the order is executed, then the other part is automatically canceled.

An investor with limited funds may place an order to buy both stocks and bonds and specify that it's a "one-cancels-the-other-order." In other words, if the market favors stocks and they are bought, the order to buy bonds will be canceled. Conversely, if the market suggests bonds are the way to go, the order will be to buy bonds and the order to buy stocks will be canceled.

[Ciao]

thanks Zakthecat
+/- that was the answer but I can’t apply it..

one can set (my platform any way) what one like to trade
example sell short… buy at reached target to close short
but then buy (that price ) and go long… to short again etc… then selling at
or put several prices and at reached target OCO take place…

sorry it is difficult for me to explain properly… and unfortunately I can’t post (I can copy + paste) the chart with example..

when I master (?) I will post it

good trading

[zekthecat]

How about this Ciao,

Example 1

You're studying the June Crude Oil chart, and you decide that the market's trading in a range between 60.00 and 70.00. If the market declines toward support at the lower end of the range, you'd like to buy a few contracts. And if the market rallies toward the resistance level, you'd like to sell. So, you enter an OCO order: Buy 3 June Crude Oil for 61.00, and sell 3 June Crude Oil at 69.00. Both orders will work in the marketplace until one is filled. At that time, the OCO will automatically cancel the other

Example 2

You're long one contract in the June Dow Jones market, and the market's been moving in your favor. But it's Friday afternoon, and you're nervous about carrying the position over the weekend. Thus, with the market trading at 11,350, you enter an OCO order: Sell 1 June Dow at 11,380, and sell 1 June Dow MOC (Market on Close). If your objective is hit, and you're filled at 11,380, our system will automatically cancel the MOC order. But if the market never reaches 11,380, your MOC order will be filled in the closing range, and your limit order will be automatically cancelled.

Example3

If an account is long in shares of XYZ stock, you might enter a one cancels the other order involving a sell limit for a certain number of XYZ shares above the market, and a stop loss for the same number of XYZ shares below this market. This takes advantage of an upward move in XYZ's price while protecting against a downward move.

One cancels the other orders are commonly used to place orders on both sides of the market.

[Ciao]

Thanks Zekthecat
just seen your post… sorry I was busy trading …

I will print it and take a look at your examples…. then I will try one….
I either come back to annoy you again (asking more questions) or I am ok

[zekthecat]

Ciao,

If you have any more questions feel free to ask them. That is what this site is for.

Hope that it helps you.

[stock-up]

Originally Posted by zekthecat

Ciao,

If you have any more questions feel free to ask them. That is what this site is for.

Hope that it helps you.

Hi I dont want to expose my stupidity, but on the TDCP thread they talk about the MM, which I guess means money managers. But isn't it actually the specialist that manages the price. :rolleyes:

[Ciao]

stock-up posted
Hi I dont want to expose my stupidity, but on the TDCP thread they talk about the MM, which I guess means money managers. But isn't it actually the specialist that manages the price

sorry Stock-up I don't understand your post (meaning)

read zekthecat posts, he gives good answers and explanations

[Ciao]

good morning Zekthecat

If you have any more questions feel free to ask them. That is what this site is for.

Thanks Zekthecat, very kind of you.

I try it earlier on (with the market closed I can’t do any damage.. at least I hope)
and there is 2 more tools parallel to OCO
(I will try to post it)

now I am busy trading