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, you might 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.
Change the Bracket Settings by clicking the OCO/OSO button, then choose Custom OCO/OSO Order.... On the Custom OCO/OSO dialog box, choose Bracket OCO Order and click OK. 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 Trade Bar by default. To change to a different symbol, enter the symbol in the Symbol box, or click the Lookup button to find a symbol by description or name.
- Quantity - Contains the quantity displayed in the Trade Bar by default. To change to a different quantity, enter that number in the Quantity 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. Then, select either Stop Market or Stop Limit.
Click OK to apply changes and launch the Order Cancels Order & Order Sends Order - Trade Bar dialog, or Cancel to exit without any changes.
The Bracket order rows appear with a light color background in the Order Cancels Order & Order Sends Order - Trade Bar dialog.
Working in the Order Cancels Order & Order Sends Order dialog box
For each Bracket order, you can Attach Bracket as OSO, Attach Single Order as OSO, and use the Advanced settings.
- Review each row to ensure that the Symbol, Action, Quantity, and other fields are correct. (You may need to use the dialog scroll bar to view all of the columns.)
- Choose an order, and add any Advanced Settings (on the lower portion of the dialog box) if desired:
- To attach OSO order(s) to a bracket row, choose an order, and then click Attach Bracket as OSO. The Bracket Settings dialog box appears where you may change the settings. Click OK. Each will appear indented one level below its primary order row.
- Or, to attach a single order as OSO, choose an order and click Attach Single Order as OSO to add as many OSO order rows as desired. Each will appear indented one level below its primary order row.
- Change any of the Advanced settings. Click to view About Advanced Orders help.
- When all of the order rows have been entered and reviewed, choose an action:
- Click Place Orders(s) to place all of the OCO/OSO order rows. You are prompted to confirm the order from the Confirm dialog box. The order is now in the Orders tab.
- Click Place and Stage Order(s) to stage, or save the order as a template. You may reuse OCO/OSO orders easily from the Orders tab. You can send your information in the order bar to the staged Orders tab where it can be used later to create other orders. When you choose Place and Stage Order(s), you are prompted to confirm the order from the Confirm dialog box. The order will now be in both the Orders tab and the Staged Orders tab.
- Click Stage Order(s) to save the order for a later time. When you choose Stage Order(s), you are prompted to confirm the order from the Confirm dialog box. The order will now be in the Staged Orders tab.
- To exit without placing any of the order segments, click Cancel.
Placing a Custom OSO Order
- From the Trade Bar, click OCO/OSO and select Custom OCO/OSO Order... On the Custom OCO/OSO dialog box, choose OSO Order (Order Sends Order) and click OK. The Order Cancels Order & Order Sends Order - Trade Bar dialog appears.
- Enter a name in the Stage OCO/OSO Name box if desired.
- Enter a symbol for the primary order row and press enter.
- Review the row to ensure that the Symbol, Action, Quantity, and other fields are correct. (You may need to use the dialog scroll bar to view all of the columns.
- Choose an order, and attach bracket and single orders under Advanced Settings (on the lower portion of the dialog box) if desired:
- To attach OSO order(s) to a bracket row, choose an order, and then click Attach Bracket as OSO. The Bracket Settings dialog box appears where you may change the settings. Click OK. Each will appear indented one level below its primary order row.
- Or, to attach a single order as OSO, choose an order and click Attach Single Order as OSO to add as many OSO order rows as desired. Each will appear indented one level below its primary order row.
- Change any of the Advanced settings. Click to view About Advanced Orders help.
- When all of the order rows have been entered and reviewed, choose an action:
- Click Place Orders(s) to place all of the OCO/OSO order rows. If prompted, confirm the order. The order is now in the Orders tab.
- Click Place and Stage Order(s) to stage, or save the order as a template. If prompted, confirm the order. You may reuse OCO/OSO orders easily from the Orders tab. You can send your information in the order bar to the staged Orders tab where it can be used later to create other orders. The order will now be in both the Orders tab and the Staged Orders tab.
- Click Stage Order(s) to save the order for a later time. If prompted, confirm the order. The order will now be in the Staged Orders tab.
- To exit without placing any of the order segments, click Cancel.