TradeStation Help

Bracket Settings

A bracket OCO consists of pair of exit orders with the same symbol, quantity, and order action (Buy, Sell, etc.). When one of the orders is partially filled, the other order's quantity is automatically decremented by the same amount.  

For example, lets say that you create a bracket order consisting of a sell limit order for 1000 shares and a sell stop order for 1000 shares of the same symbol. If the limit order is partially filled for 500 shares, the stop remains open and automatically decrements to 500 shares to match the remaining open position.

 Access using the Custom OCO/OSO from the Order Bar and select Bracket OCO Order. The Bracket Settings dialog is displayed.

Bracket Settings

A Bracket OCO order consists of two existing orders with the same symbol, quantity and order action.

• Symbol - Contains the symbol displayed in the Order Bar by default. Enter the desired symbol in the Symbol box. Click Lookup to launch the Symbol Lookup dialog.
• Quantity - Contains the quantity displayed in the Order Bar by default. Enter the desire amount in the Amount box.
• Number of Target (Limit) Levels - Enter the limit levels for the bracket order. Each limit level represents a different limit price.
• Number of Protective (Stop) Levels - Enter the stop levels for the bracket order. Each stop level represents a different stop price. Select Stop Market or Stop Limit.

 Click OK to apply changes and launch the Order Cancels Order & Order Sends Order - Order Bar dialog, or Cancel to exit without any changes.

The bracket order rows appear with a light blue background on the Order Cancels Order & Order Sends Order - Order Bar dialog.

1. Review each bracket row to ensure that the symbol, action, and quantity are correct and that the appropriate limit and stop settings are specified. Use the check boxes on the lower portion of the OCO/OSO Order Bar to select Advanced settings for each selected order row, if desired.
2. To attach OSO order(s) to a bracket row, click on that row's symbol, click Attach Bracket as OSO or Attach Single Order as OSO to add as many OSO order rows as desired (each will be appear indented one level beneath its primary order row).
3. When all of the order rows have been entered and reviewed, click Place Orders(s) to submit all of the OCO/OSO order rows. To exit without placing any of the order segments, click Cancel.

Placing a Custom OSO Order

1. From the Order Bar, click OCO/OSO and select Custom OCO/OSO Order... The Custom OCO/OSO dialog is displayed.
2. Select the OSO Order.
3. Click OK. The Order Cancels Order & Order Sends Order - Order Bar dialog is displayed.
4. Enter a symbol for the primary order row.
5. Review the row to ensure that the symbol, action, and quantity are correct and that the appropriate limit and stop settings are specified.  
6. Under Advanced settings for a selected 'SYMBOL' order, place a check mark next to any advanced order features be used along with the associated values (Amt, Qty, Price, etc). You can also attach bracket and single OSO order(s) to a row:
   • Click Attach Bracket as OSO to enter the Symbol, Quantity and the number of limit and stop levels to be created. Click OK to continue.
   • Click Attach Single Order as OSO to add as many single OSO order rows as desired (each will be appear indented one level beneath its primary order row). Review each row to ensure that the symbol, action, and quantity are correct and that the appropriate limit and stop settings are specified.
   • When all of the order rows have been entered and reviewed, click Place Orders(s) to submit all of the OCO/OSO order rows. To exit without placing any of the order segments, click Cancel.