Take Profit on Limit Orders, Equities

Discussion in 'Trading Software' started by elguapo, Sep 8, 2017.

  1. elguapo

    elguapo

    I used sterling years ago, can't remember if it does. Limit entry order filled, limit profit sent out.

    Does either lightspeed/takion/fusion, any platform offer this? Seems like every futures platform has this built in.
     
  2. Robert Morse

    Robert Morse Sponsor

    elguapo,

    I work for Lightspeed and we also own Sterling. If you are asking about conditional orders or bracket orders, we have both on Real Tick. Lightspeed does not have them but you can manually use hot keys and hot buttons. Sterling has some conditional orders. Sterling can do OCO-Order Cancels Order. You can set up an order to enter the trade. Then set your stop, then your target, then highlight the two orders to attach them.

    OCO Orders
    OCO Orders – OCO, One Cancels the Other (or Order Cancels Order) is an order feature available only from the Trading Monitor. OCO in Sterling Trader® Pro involves grouping two or more orders that are already live. For example, if you have an open order to buy 100 XYZ and an open order to buy 100 ABCD, you could group them together as OCO. If you manually cancel one of the orders in the group, all orders in the group will be cancelled.

    To create an OCO group:
    1. Highlight two or more live orders in the Trading Monitor.
    2. Right click. A menu will pop up.
    3. Select OCO. The sub-menu will have two options
    • Create Group
    • Remove Group
    1. Select Create Group.

    2. The orders you selected are now grouped. Once one order fills, the others will be cancelled.
    There is a column available in Trading Monitor called OCO ID. This column will allow you to see which, if any, orders are grouped together by assigning a specific number to them.



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