TradeStation Help

Custom OCO/OSO Orders

Placing a custom OCO and OSO order allows you to group conditional orders with multiple symbols using your own combination of OCO, Bracket OCO, and OSO orders. There is no limit to the number of parallel orders in an OCO group of orders. When any one of them is filled, the others in the group are canceled.

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

 VIDEO - How to create multi-symbol orders using a custom OSO
Learn about creating a custom OSO to send orders for multiple symbols simultaneously, which can help you manage your trades more efficiently.

OCO Order (Order Cancel Orders)

An OCO (Order Cancels Order) order consists of a group of two or more parallel orders that are linked together in such a way that if one of the orders is filled, then all of the other parallel orders are canceled.

For example, let say that an OCO order consists two orders; 1) a limit order to buy 500 shares of one symbol and 2) a stop order to sell 200 share of another symbol. If the limit price of #1 is hit and fills, the stop order #2 is automatically canceled.  

• Select this setting to place an OCO Order. The Order Cancels Order & Order Sends Order - Order Bar dialog is displayed.

Bracket OCO Order   

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

• Select this setting to place a Bracket OCO Order. The Bracket Settings dialog is displayed. For more information, see Bracket Settings.
• 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.
• To attach OSO order(s) to a bracket row, click on the row's symbol.
• Click Attach Bracket as OSO to enter the symbol, quantity, and the number of limit and stop levels to be created in the Bracket Settings window.
• Click Attach Single Order as OSO to add a single OSO order row. You may attach as many as you desire as each single order will 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.

OSO Order (Order Sends Order)

An OSO (Order Sends Order) order consists of a primary order that will send one or more secondary orders when the primary order is filled.

For example, there is an OSO order consisting of three orders. The primary order 1) is a limit order to buy 1000 shares of a symbol, and attached to it are two other orders: 1) a limit order to buy 500 shares of another symbol in the same industry and 2) an stop order for 1000 share of the primary symbol at a price .25 below the limit price for that order. When the primary order is filled, the two additional OSO orders are sent, one that buys additional shares of a related symbol and another that sets a stop loss for the primary symbol.

• Select this setting to place an OSO Order. The Order Cancels Order & Order Sends Order - Order Bar dialog is displayed.
• Enter a symbol for the first order row.  
  
  The background of this row is white until more OCO rows are added at which point the OCO rows will have a yellow background.  
• Enter additional symbols to create more OCO rows. An OCO order needs to have at least two parallel rows (at the same indent level).
• Review each OSO 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.
• 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 Bracket as OSO to enter the symbol, quantity, and the number of limit and stop levels to be created. Click OK to continue.
• 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.