Conditional Orders

Order cancels order (OCO)

  • An OCO is an order, which upon execution cancels another pending order. This option gives you the ability to use the available purchasing power in your account to place two buying orders at the same time, or sell one of two different stocks. The original order must be placed normally by selecting (Add New Order). To add an OCO order, you then go to the (Change/Cancel Order) screen and choose OCO at the bottom of the page.
  • The second order should be the same type as the original one, which means that if the original order is Sell then the second order should be Sell, and if the original order is Buy then the second should also be Buy.
  • The 2 orders should be placed on 2 different stocks.
  • The order validity can be a Day Order (DO) or Good Till Cancelled (GTC)
  • The order can be placed on any stock.
  • Orders can be placed before, during or after the trading session.
  • To place an OCO order, the price should be 2% above or below the market price (according to the order type).
  • The 2 orders will be sent to the stock market and when one of them is fully or partially executed, the other will be cancelled.

If Done Order

  • When an order is sent to the market if the original order is executed.
  • The 2 orders have to be different types, meaning that if the original order is a Sell order then the second order has to be a Buy order and if the original order is a Buy order then the second order has be a Sell order.
  • If the original order is executed and was connected to another order, then the connected order will be sent to the stock market. When using If Done Order, the original order should be placed normally by selecting (Add New Order). To add an If Done Order, you then go to the (Change/Cancel Order) screen and choose If Done Order at the bottom of the page.
  • One or two orders can be connected to the original order. If two are connected then one will be a Take Profit Order and the other a Stop Loss Order, with the Take Profit Order sent to the stock market first.

Stop Loss order

There are two kinds of Stop Loss orders:
  • Sell Stop Loss. Selling at a lower price than the current market price.
  • Buy Stop Limit. Buying at a higher price than the current market price. Order validity can be a Day Order (DO) or a Good Till Cancelled (GTC) order. Orders can be placed on any trading stock.