@@TradingEducation911 I had to go to set up settings and switched grouping to Orders for it to show up for me for anybody who's looking for this info. A friend of mine was very knowledgeable with tos helped me out with this
Can you create a video using ThinkorSwim that shows how to EXIT a Call Credit and Put Credit Spread with a PROFIT before Expiration? I want to make 50% of the Credit I took in when entering the trade. I want to EXIT the trade BEFORE Expiration
Hi, just a thought. I am pretty new to options but why not set the stop-loss to the breakeven price? So there is no risk of losing anything? Or atleast the loss can be set the amount of profit you want
Once I'm in the trade, I use the OCO bracket Order as: for profit buy back for 20% of my credit received (thus profiting 80%): for losses: buy back for 2 times the credit received. Example: Credit received $0.35 on a $2 wide spread Exit Order: Profit $0.07 Limit Debit OCO Loss: 1.15 Debit LMT StopLimit $1.05 STP Mark Both OCO orders on GTC The trigger is executed ($1.05) when the spread reaches 200% of the credit received(3x0.35), then use a 10 cent wide for the order to execute with the range of $1.05 - $1.15 to account for slippage. Basically, in plain English, you're saying that convert this order into a sale order when the value of the spread (the mark) reaches $1.05, then execute this order for no higher than $1.15. Need to watch for any possible overnight GAPs that would skip the target range to exit for a loss! You can also multiply by 2.85 the credit to account for commission/fees to pay to narrow down your loss (2.85x$0.35 =$0.99= STP), then use the 10 cent wide as your limit debit (1.09). .
@olenaromanchuk2021 Like to pick your brain about setting up my stop loss order on the SPX credit spreads I put on. Let me know how I can contact you. Thanks
Sir; Great work, can you make another video just with the PUT CALL OCO simple, I could not understand the words DEBITS. I am using LIMIT, MARKET, STOP. If you can help me with that I will really appreciated, I am having problem with that PUT CALL OCO SETUP to make sure I don't lose that money. thanks Respectfully; Andy
$100 seems a little high though, do you choose such a high buffer because of volatility on the underlying? If IVR was low could you use a lower amount?
Is it possible to do OCO when getting into a credit spread trade so I do not have to place a credit spread order first and then come back to do OCO in 2nd step?
@@bullishbearstrading To increase the chances of a loss. Spreads are already risk-limited. Stop losses on spreads work against you by doubling your odds of stopping out for a loss due to a touch before expiration.
How did you get the row that says "Vertical" and the "trade price" total to come up? Mine is missing that row.......
Yes I'm trying to figure out the same thing. Wish he responded by now
@@emye35 i figured it out, you just have to group them. enjoy
@@TradingEducation911 thanks
@@TradingEducation911 I had to go to set up settings and switched grouping to Orders for it to show up for me for anybody who's looking for this info. A friend of mine was very knowledgeable with tos helped me out with this
Been looking for a great explanation of this concept and you nailed it!
Excellent - this has been difficult to find a clear explanation. Thanks Much
Great video because I was in a spread at work and price ran thru my spread for max loss
Very useful. Question - Should the main trade be placed before placing the OCO Stop Loss and Exit orders? Is it possible to place all 3 together?
Very handy for 0DTE SPX credit spreads. Thank you so much!
Can you create a video using ThinkorSwim that shows how to EXIT a Call Credit and Put Credit Spread with a PROFIT before Expiration? I want to make 50% of the Credit I took in when entering the trade. I want to EXIT the trade BEFORE Expiration
Hi, just a thought. I am pretty new to options but why not set the stop-loss to the breakeven price? So there is no risk of losing anything? Or atleast the loss can be set the amount of profit you want
You can set your stop loss to anything you'd like. Find out what works best for you and go for it!
Once I'm in the trade, I use the OCO bracket Order as:
for profit buy back for 20% of my credit received (thus profiting 80%):
for losses: buy back for 2 times the credit received.
Example:
Credit received $0.35 on a $2 wide spread
Exit Order:
Profit $0.07 Limit Debit
OCO
Loss: 1.15 Debit LMT StopLimit
$1.05 STP Mark
Both OCO orders on GTC
The trigger is executed ($1.05) when the spread reaches 200% of the credit received(3x0.35), then use a 10 cent wide for the order to execute with the range of $1.05 - $1.15 to account for slippage. Basically, in plain English, you're saying that convert this order into a sale order when the value of the spread (the mark) reaches $1.05, then execute this order for no higher than $1.15. Need to watch for any possible overnight GAPs that would skip the target range to exit for a loss!
You can also multiply by 2.85 the credit to account for commission/fees to pay to narrow down your loss (2.85x$0.35 =$0.99= STP), then use the 10 cent wide as your limit debit (1.09).
.
@olenaromanchuk2021
Like to pick your brain about setting up my stop loss order on the SPX credit spreads I put on. Let me know how I can contact you. Thanks
I think you meant "3 times the credit received". Since you calculated (3x0.35) for the buy-stop price
Terrific video Bullish Bear. I followed a different source of info and I ended up making mistake. Your video is very clear and precise. Thanks.
Super helpful, thank you!
Thanks!
Sir;
Great work, can you make another video just with the PUT CALL OCO simple, I could not understand the words DEBITS. I am using LIMIT, MARKET, STOP. If you can help me with that I will really appreciated, I am having problem with that PUT CALL OCO SETUP to make sure I don't lose that money. thanks
Respectfully;
Andy
$100 seems a little high though, do you choose such a high buffer because of volatility on the underlying? If IVR was low could you use a lower amount?
Is it possible to do OCO when getting into a credit spread trade so I do not have to place a credit spread order first and then come back to do OCO in 2nd step?
How do you include in an OCO order a way to close the position if your options will expire in say 14 or 21 days?
Excellent! Did u do a video on how to set bracket orders for debit vertical spreads?
Shouldn’t the link under the order to be set as “TRG”? That’s when one order executed and the other order is triggered to cancel the other one?
exactly what I was looking for! Thank you!
very useful information, thanks
thanks. Liked.Subscribed
best so far !!!! thank you !
Glad you think so!
THANK YOU FOR A VERY USEFUL VIDEO!
Thanks. Very understandable.
How to set OCO for a order already filled?
awesome, thanks!
you're welcome
Is there a way to place an OCO order by percentage? Like I want to take profit at 20% and stop loss at -15%
yes
@@Leeav how
ua-cam.com/video/jjRbGK8qxEU/v-deo.html
@@youngvvyoungonevv8798 7:55 mark
@@Leeav thank u, deeply appreciated.
Great presentation. How can I find the same procedure for Debit Spread?
Thank you! We have a free course on how to trade options and place orders right here: bullishbears.com/options-trading-course/
Great explanation. Thank you.
Welcome sir!
thx so much u saved me super bro
thats awesome
Why would you use a stop loss on a spread where the risk is already limited?
To keep losses smaller
@@bullishbearstrading To increase the chances of a loss. Spreads are already risk-limited. Stop losses on spreads work against you by doubling your odds of stopping out for a loss due to a touch before expiration.
@@bullishbearstrading Watch here for why this is a bad idea ua-cam.com/video/MXfRxbPNAKM/v-deo.html
Man that was clear and to the point. Only took five videos to find a good one. Gonna check out your site. Thanks.
You’ll love our style of teaching! We even teach live in the trade rooms with 3 webinars daily!