An AutoOCO is an order that consists of three components: a Trigger order and the two components of a traditional OCO Order that are held on our server, and when the Trigger order is filled, the OCO order (consisting of a Limit order and a Stop order) is activated and consequently submitted to the exchange and when one side of the OCO is filled the other will cancel. This is a helpful order type as it allows the user to have the initial order protected automatically after it is filled with an OCO order.
To enable AOCO
- First tap the OCO button to bring up the order type menu.
- Then tap on AOCO to select that order type. The AOCO color will turn orange and the Limit Will stay Orange as well.
Submitting an AOCO on the chart
- First make sure Chart trading is enabled.
- Tap here to set your Lot size.
- Then set the number of ticks away from the order that you want your limit to be placed. To do this tap on the box labeled L to bring up the menu to set the tics for the limit order.
- Then set the number of ticks away from the order that you want your Stop to be placed. To do this tap on the box labeled S to bring up the menu to set the tics for the stop order. Note the T next to the Stop, tap on this to change it to orange and this will designate that the stop will be a trailing stop.
- You can set your stop to be a trailing order. You need to enable this before submitting the order.
- Then tap in the blue bid column to enter a buy or the red column to enter a sell.
Now we are ready to submit the order. For this example we are going to use the order ticket. The order ticket is a useful way to submit orders on the chart as it allows you easily pinpoint the price you would like to submit that trade at.
- We are going to submit a sell order at 3776 with the limit and stop of the held oco set to trigger at one cent away from the fill price.
- After tapping in the sell column the order ticket will pop up and you can confirm the QTY, Limit price and the submission distance for the limit and stop of the held OCO. Once all the parameters are confirmed you can then tap the submit button.
- This is the price at which the initial order was filled.Note it is colored red to indicate you are short. If it was a buy it would be colored blue.
- This is the Stop side of the OCO. You can long press and drag to revise the stop individually.
- This is the Limit side of the OCO. You can long press and drag to revise the stop individually.
Revising and canceling orders
- You can quickly view the order details by tapping on the bubble. You can also quickly pull one side of the OCO by tapping on the black x with the red circle.
- To revise an order you can long press on the bubble of the part of the OCO you wish to revise drag then drop. We have long pressed on the limit at 3770.
- Since we have the order ticket enabled after dragging and dropping the order ticket comes up and eassily allows you to revise either the limit price or the stop price. Notice you can also pull one side of your OCO.
Tip: for AOCO orders once the OCO is triggered if you cancel one side of the OCO the other order will continue to work. For example if you cancel the limit order your stop will continue to work.
You can confirm your OCO orders in the All, or Working tab of your Order Book. You can also tap on an order in the order book to view the order details or revise the order.
Helpful Tip You can tap on the orders button to cycle through your different options. One example would be to tap on the orders button to change from working orders to see just current fills.