Someone explain these orders

Discussion in 'Order Execution' started by konviction, Jan 18, 2011.

  1. I never used these types of orders in my life. I called the guys at tos, but they treated me like an idiot for not knowing, so I basically hung up on them.

    I know what an OCO is, but its the ones that have "tgrs" next to them that I dont understand.

    1 tgrs seq ...?
    1 tgrs all ...?
    1 tgrs 2 oco ... ?

    Is this all done in one order or do I need to have previous orders for these trigger orders to "link" to? fuk.
  2. TGRS means triggers.

    OCO means One cancels Other. I use this all the time.
  3. 1 triggers sequence is a ripple effect: a fill on order #1 activates order #2, a fill on order #2 activates order #3, etc.

    1 triggers all means order #1 activates all subsequent orders in the list.

    etc, etc.

    I've found the "1 triggers sequence" quite useful.
  4. That sucks. If the OP is correct in how he was treated that is a show of bad customer service. Triggers like that are definitely not "common" or exchange features. NICE - and definitely usefull, but something to tell the customer where to read up on them with examples in the documentation, not to treat him like an idiot for not knowing.
  5. Wow!..ok, so I think I got it...

    tell me if this makes any sense what so ever.

    Here's the problem and what I'm looking to do:

    I cant watch the forex markets for hours because I need sleep, but I need TWO different orders in place with TWO different targets and stops.

    I'm trying to take the breakout of this range. Of course I dont know what direction it will go, so I need orders above and below the breakout points. Once the trigger order is hit, I need two stops, one as a stop loss, and one for profit taking.

    I figured making two "1st triggers OCO" would be correct.

    Heres what it looks like. UGGHH!


    Thanks for the help guys.