Bracket (OCA) Orders on Chart

[Doug Hayman]

Hi,

A couple of questions please on Bracket (OCA) orders executed from Chart Trading:

Assume a BUY on both of these questions:

1) When I select "BRKT" order as my order type, and attempt to buy, I click on my desired purchase price initially (click # 1) and then can move up from this limit price for my upper  (profit) price (click again), but I cannot then move lower (and click) to create my lower (Stop) price.  Also, I'm confused by the comments when I mouse over the "BRKT" tab:

One click for upper price

One click for lower price (I can't seem to do this)

The order does not matter (what does this mean????)

2) Regarding bracket orders (again assume BUY), does holding the Shift Key down when creating this Bracket order make this a "Buy Limit Bracket Order", and does holding CTRL key down when creating this Bracket order make is a "Buy Stop Bracket Order"?

Thanks in advance.

[Jerry Medved]

Doug,

I think in your example you expect to place a buy order, followed by 2 sell orders. That is not MT's bracket. MT's bracket is just the OCA - the 2 sell order in that example. So, you would enter whatever buy order you want, then once it is executed, you would enter the bracket order. 

When entering the bracket order, (SELL), you would need to specify 2 prices - 1 above and one below the current price. For a SELL bracket, the one above would be the LIMIT and one below would be the STOP MARKET. Which one you specify first doesn't matter. MT automatically uses the higher price for the limit and lower for the stop (in the case of a SELL)

What you were expecting would be an OTOCA (One Triggers One Cancels Another) and that is not currently supported. We plan to add that in the future.

As for holding down the CTRL key, that just overrides whatever current order type selection to make it a STOP Market order. Shift overrides current order type to make it a LIMIT order. It does not add or modify the existing order type. So, if you select BRACKET order but then hold down the CTRL key and click on the chart, you will place a simple STOP MARKET order. The cursor shows you the order type and automatically changes as you hold down the keys.

[Doug Hayman]

Thanks, Jerry, for the clarification. I’d be very interested in the OTOCA order type, but I’m not a paying customer (yet!)

Thanks for the weekend reply.

[ehjump]

Hi guys,

If I may, I'd like to lend my voice of hope/desire for this feature. I agree that OTOCA orders would be a great addition. Looking forward to it Jerry

Edited August 27, 2018 by ehjump