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Server-Side OCO Single Bracket Order Back to Articles

4/29/2020


Placing a Server-Side Simple Bracket Around an Existing Position.

ATCharts™ offers server-side OCO's - also known as order cancel order. An OCO trade allows the trader to place two or more trades simultaneously in a futures markets. Once one of the trades is either filled (the trade is executed) or cancelled, the other trade(s) are cancelled. In this video we demonstrate how to send a single bracket OCO and apply it to an existing position. A single bracket OCO consists of two trades, a profit target (limit order) and a stop (stop loss order). If the profit target order is filled first then the stop is automatically cancelled. This would result in a profit, a flat position and no outstanding orders. Alternatively, if the stop is filled first then the profit target is cancelled. This would result in a loss, a flat position and no outstanding orders.


Server-side trade and order management, (as opposed to client side - e.g., your local PC) provides traders with two distinct benefits:

First, traders can log out of the device (PC, Mac, tablet or phone) that they used to place the trade and login to another device later in the day. Furthermore, the trader can edit the orders directly from the new device - device agnosticism.

Second, traders can place a trade and go about their day or evening. The server-side nature of the stop loss is stored on a dedicated computer system (and internet connection the exchange) that is more robust than most local computer set-ups.

Example

Adding an OCO simple bracket around an existing position in the CME Groups E-mini Nasdaq futures market. In this example we are short 1 contract at a price of 8955.75, which is highlighted by the yellow horizontal line on the ATChart. The current market price is highlighted by the green dash line. The OCO trade ticket allows the trader to place an OCO buy stop above the market, in this case the order is positioned at 8974.75. Simultaneously at the same time the trader is able to place a sell limit order below the market, in this case to take profit at 8931.25. The trader clicks on the buy button to transmit the order directly to the exchange.

Infinity Futures

Server-side OCO example which will result in a flat position and no orders working once one of the legs of the order gets filled.

If you have any questions or require additional information please contact me directly at j.cagnina@infinityfutures.com.