OCO Trader™
OCO Trader™ Synopsis
OCO Trader is a plug-in application designed for X_TRADER® Pro. OCO stands for One-Cancels-Other. OCO Trader is designed to place two orders into the market automatically whenever it receives a fill for a contract it is tracking. An autocover limit order will be placed at “x” amount of ticks better than the fill price. The other order will be a stop order placed at a position set by predetermined rules including trailing stops. If either the profit side or the stop side gets filled, the
other side’s working quantity will be reduced by the fill quantity. If a profit gets completely filled, the stop will be deleted and vice versa.
Key Features
- Supports autocover orders and/or stop exit strategies
- Place trailing stops on orders to stay “x” ticks from inside market
- Set synthetic stops on orders, so that a 1 lot trade won’t trigger a Stop
- Cancel resting orders to maximize queue position for FIFO
- Supports stop market and stop limit orders
- Ability to recursively bracket orders
- Option for multiple exit brackets utilizing percentages to support fading
- Selectively choose which orders are bracketed by listening to Account, FFT2, or FFT3 values
Requirements
X_TRADER Pro
X_TRADER API
Suitable Markets
Traders
Brokers
Buy Side Clients
