About Order Cancels Order & Order Sends Order - Trade Bar
The Order Cancels Order & Order Sends Order - Trade Bar dialog is the window where all OCO/OSO orders are placed.
VIDEO - Place OCO and OSO Orders on the Trade Bar
Using Entry and Exit Order Templates
Access
from the Trade Bar, click OCO/OSO and select the desired
OCO/OSO template from the drop-down
list. The Order Cancels Order & Order Sends Order - Trade Bar dialog
is displayed that shows the primary and secondary orders in a row hierarchy.
Creating a Custom Order
Access
from the Trade Bar, click OCO/OSO and select
Custom OCO/OSO Order from the drop-down
list. The Custom OCO/OSO Order dialog is displayed. Select a custom order type and click OK (for Bracket Orders, review the Bracket Settings), The Order Cancels Order & Order Sends Order - Trade Bar dialog
is displayed.
OCO/OSO Name
Displays the name of the OCO/OSO order.
- Stage OCO/OSO Name - Enter the desired name for the order, if applicable.
Review the orders below
Displays the order details of the OCO/OSO order. For detail information about each column and field, see OCO/OSO Columns and Fields.
- Review each row to ensure that the symbol, action, and quantity are correct and that the appropriate limit and stop settings are specified for the primary and secondary orders.
Attach
Bracket and Single Orders
Contains bracket and single order options that can be added to the OCO/OSO order.
-
- Allows you to enter the symbol, quantity, and the
number of limit and stop levels to be created in the Bracket Settings
dialog. For more information, see Bracket
Settings. -
- Add a single OSO order row. You may attach
as many rows 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.
Advanced settings for
the selected [symbol] order
The Advanced order settings provide you with greater control over how your order is placed, and how it is reflected in the market. For example, this might give you the opportunity to get faster fills at better prices with less impact on the market.
- Activation Rule - Check this setting to determine when an order will be sent to the market based on either a specified time and/or price action of one or more symbols. Activation rules for a given order are specified using the Activation Rules option.
- All or None - Check this setting when you do not want a partial fill. Your order will be filled in its entirety or not at all.
- If Touched - Check this setting to specify a price that when touched, will send the selected type of order to the market. This is only available for Market and Limit orders.
- Trailing Stop - Check this setting to set a trailing stop to a specified point or percentage amount from the current price (Last). Trailing Stops are used with a Stop Market order type.
- Show Only - Check this setting to hide the true number of shares that you wish to buy or sell. To do this, select the total quantity for the order and the quantity that you want displayed at a time. This helps minimize the impact on a market when trading a large number of shares.
- Discretionary - Check this setting to reflect a Bid/Ask at a lower/higher price than you are willing to pay using a specified price increment or decrement.
- Buy on-/Sell on + - Check this setting to allow buys to occur only on downticks and sells to occur only on upticks. Using this option allows you to buy only when a seller is aggressive or sell only when a buyer is aggressive.
- Non-Display - Check this setting to not reflect your order in either the Market Depth display or ECN books. Non-Display orders have a lower execution priority than Subscriber Only or normal visibility orders.
- Peg - Check this setting for a peg order's price changes dynamically with the market until the specified duration is met, the order is filled, or the limit price entered is reached. The value with which the peg order will float is the Best price (best Bid for a buy order and to the best Ask for a sell order) or the Mid price (midway between the Bid and Ask). This type of order is useful to achieve a fair price in a fast or volatile market.
- Send Order(s) - Places the order. You are prompted to confirm the order from the Confirm dialog. The order is now in the Orders tab in TradeManager.
- Send and Stage Order(s) - Stage (save an order as a template) and reuse OCO/OSO orders easily from the Orders tab in TradeManager. You can send your information in the Trade Bar to the staged Orders tab where it can be later used to create other orders. Launches the Confirm dialog and places the order in both the Orders tab and the Staged Orders tab in TradeManager.
- Stage Order(s) - Saves the order for a later time. You are prompted to confirm the order from the Confirm dialog. The order is now in the Staged Order tab in TradeManager.
Click
Send Order(s) to submit all OCO/OSO
orders. Click Send and Stage Order(s)
to save an order as a template and reuse the OCO/OSO order from the Orders
tab in TradeManager, click Stage Order(s)
to save the order and submit it at a later time, or Cancel
to exit without any changes.