OCO (Order-Cancel-Order) Strategies

OCO (Order-Cancel-Order) Strategies

OCO (Order-Cancel-Order) Strategies

The OCO Strategies allow you to attach two exit orders to a main order:

  • Limit order for a potential profit exit

  • Stop order for a potential loss exit

Once one of the exit orders is executed, the other order is automatically canceled.

Enable OCO Strategy

To enable OCO Strategies:

  1. Open the Trading Panel.

  2. Enable the OCO Strategies checkbox.

  3. Select the mode you want to use.

Mode SL/TP

The SL/TP mode allows you to quickly place individual Stop Loss and Target Price OCO orders:

  1. Set Ticks/Money in SL Ticks/Money and TP Ticks/Money.

  2. Enable the ticks to activate the orders.

This mode is ideal for simple, single-contract exit strategies.



.

Mode Multi

The Multi mode allows more complex OCO strategies, such as:

  • Multi-contract exits

  • Moving the stop to breakeven

Creating a Multi OCO Strategy:

  1. Click the Setting Icon → New Strategy.

  2. Add multiple Stop and Target orders:

    • Select Stop, define quantity and ticks, then click Add bracket

    • Repeat for Target orders

  3. To move a stop to breakeven after reaching a target, enable Move BE

  4. Name the strategy and click Save

Selecting the Strategy:

  • Use the drop-down menu in the panel

  • If the entered quantity matches the OCO strategy, a green tick appears; otherwise, a red warning is shown

Example:

  • 3-contract strategy

  • 1 Stop exit at 12 ticks

  • 3 Target exits at 8, 12, and 20 ticks

  • Stop moves to breakeven after Target 2


Server / Client

Determine whether the OCO strategy is managed server-side or client-side.

Server

  • Orders are managed and stored on the broker’s server

  • Remains active even if the trader’s computer goes down

  • Currently supported by Rithmic and DXFeed

  • You can link two OCO strategies so that executing one cancels the other:

    • After entering orders, click Link pending orders

Client

  • Orders are managed locally on the trader’s computer

  • Requires the platform and internet connection to be active


Quick OCO Creation from Open Positions

Even without enabling OCO strategies:

  • Each open market position has Stop Loss (SL) and Target Price (TP) squares

  • Left-click on SL or TP to quickly create exit orders

  • You can link them together to form an OCO strategy


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