Tradestation automation OCA/Bracket orders

Discussion in 'Automated Trading' started by chinook, Sep 26, 2009.

  1. This is a question for people running Tradestation automation for trade executions.... I used to use TS for running strategies for futures in automation mode. I always used bracket/OCA orders and TS handled those in a peculiar way. For instance, they would only send one leg of the OCA/Bracket orders at a time depending on where the current price of the instrument were. And as the price moved, the target and stop orders would be swapped.

    I am wondering if this is still the same, or the strategy automation is now able to send both legs of the OCA/Bracket orders to the exchange at the same time.

  2. I think even manually placing stock bracket orders is not allowed. It is highly annoying. So when an automated strategy does it, it only places one side of it. Then as the market moves towards one or the other, it cancels the farther one away and places a new order for the one that is closest to the market. It will go back and forth like the this until one is filled. So if you have a fast strategy, you never really know if it’s working right because it’s always canceling and replacing orders.
  3. Thank you very much. It sounds like things haven't changed much then.