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Conditional Orders: One-Cancels-the-Other and If-Done
Conditional Orders: One-Cancels-the-Other and If-Done
Updated over a week ago

What is it?

A one-cancel-all order is a bundle of at least two stock or option limit orders placed together. If one of these orders is executed, the remainder gets cancelled.

How to do it?

Link up active orders into a One-Cancels-the-Other group and execute complex multi-leg trading strategies. If one of these orders is triggered, the others will be cancelled automatically.

Here’s how you do it:

  • Open the Orders module

  • Select up to five orders you want to group

  • Choose “Set OCO group” in the context menu

Set OCO group

One of the ways to benefit from OCO grouping is to place the Take Profit + Stop Loss orders in addition to the main order. Whether the price goes up or down, one of these will be executed, and the other(s) won’t.

You can either link up existing orders as shown above or create a dedicated TP/SL pair:

  • By placing an order via the Click-Trade, Order or Market Depth modules

  • By clicking on Placing, Pending, Working or Filled order in the “Orders” context menu

Take Profit / Stop Loss orders created this way are treated as Conditional If-Done orders meaning one of them will only be executed if its parent order is successfully filled. Otherwise, these orders will be pending.

Choose whatever suits you best:

  • Use preconstructed TP/SL to place Limit and/or Stop orders, or

  • NEW! Combine orders of your choice, e.g. basic Limit with Stop Limit or Trailing Stop for more complex trading strategies.

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