Knowledge Center

Advanced Orders

One Cancels Other Order (OCO)
An OCO is an advanced order. Commonly called a bracket order, this type of order allows two orders (typically a trailing stop order and a limit order) to be placed at the same time. When one is executed, the other is automatically canceled.

Orders can only be placed in the regular market session and are only good for the regular market session. Orders cannot be placed or executed in the extended hours session.

To place an OCO order:

Click the Shortcuts menu and select Advanced Order Entry. View Graphic View Graphic

The Advanced Orders window will appear. View Graphic View Graphic

From the Advanced Order Type list, select OCO - One Cancels Other.

In the Place This Order area on the Order 1 tab, complete the order information:

To add a condition, click the plus sign (+) next to Add Condition, and complete the condition for the order. The condition area expands to show the second condition area.

Note: If you do not want the second condition, click the x button next to Remove Condition. The area for the second condition collapses.

In the If The Following Event Occurs area, complete the condition for the order:

Click the Order 2 tab or the Next button to go to the second order.

Complete the order information for the second order.

To review the order information for the other order, see the Order Summary area. For example: View Graphic View Graphic

Click Submit to place the advanced order. The order activity appears in the Order Status area at the bottom of the window.

Specific securities represented in this manual are for illustration purposes only. Any information concerning a particular security should not be considered a recommendation or a solicitation of that security. Illustrations may not represent current market values.

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