a good platform for bracket order execution

Discussion in 'Order Execution' started by KAISER, Feb 3, 2019.



    a good platform for bracket order execution


    for some time, I try to use and figure out OCO bracket orders on stocks to limit the profit &loss on my open positions.

    it seems that on most platforms (I have tried schwab, thinkorswim) bracket order just triggers another market order.

    putting a bracket order actually does not guarantee certain loss or profit.

    what it does is triggering another market order when the price hits bracket’s lower or upper threshold.

    and meantime, price changes alot and you end up closing your position out of bracket.
    the order (bracket leg) is executed at a price different than bracket itself.

    for instance, I try to apply bracket of [+1% / -1%] based on AVG.PRICE.
    never succeeded so far to close my position exactly at +1% or -1%.
    sometimes, it is closed even at +5% or -5%,
    especially early in the morning when the market moves a lot fast.

    is there any trading platform that actually guarantees bracket order execution exactly at the lower or upper bracket level?

  2. Robert Morse

    Robert Morse Sponsor

    No. There are no guarantees for this. You are always subject to market conditions. I will say that we offer RealTick with server side conditional orders. Server side executions are faster than local on your platform. Not a guarantee of getting your price.

    Last edited: Feb 3, 2019
    KAISER likes this.
  3. qlai


    You should be able to specify limit bracket orders, but that would not solve your problem.

  4. I agree with Robert. I use TOS and Tradehawk for bracket orders, No one can guarantee