How to Create a Thinkorswim OCO Order - Thinkorswim Tutorial
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- Опубліковано 23 сер 2024
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DISCLAIMER: This video is for entertainment purposes only. Trade based on what you know and understand not what someone else says.
#Thinkorswim #Stockmarket #Rileycoleman
About This Video: In this video Riley goes over how to use an OCO order in thinkorswim. OCO orders stand for order cancels other which means if one order gets filled the other one will cancel. These are great for creating a stoploss and profit taking target for a trade!
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If you're interested in how to set this up on the phone app check this video out: ua-cam.com/video/frdozq7iGBY/v-deo.html
Would really like to see how you do this with trading /ES on thinkorswim... Like how to setup runners and save custom orders to a buy/sell preset. :) I still have no clear idea lol
can I have an order to which my entry will be stop buy and knowing my exit at the same time, I would like to have concurrent limit sell for the same stock? these 2 order will be placed before I own the stock. is this possible? I tried but one always cancels the other...
Wish you had addressed where you already own the shares. Or where you want to Buy with an OCO and you don't want to sell (TOS Buy OCO does what you did, a buy and then sells are OCO). I just want to buy if the price goes above OR below set prices.
Riley is a very good teacher. A natural. These TOS tutorials are much appreciated. 👍
Technically you are showing people how to create a bracket order. Which allows you to buy and set stop and target all at the same time. But sometimes people have already entered a position, and now they want to create the STOP/TARGET OCO order. One way I have done it is under Monitor - Activity and Positions. Go down to "Positions" and right click on the stock you own. It will give you a "Create closing order" option. You can create a simple Stop and Target OCO there. There may be other ways.
Great thanks for the info!
Thank you- I was trying to find a video on this but you made it simple.
Perfect I was under the impression that you could only have 2 limit orders on OCO, entry and sell. Didn't know you could sell profit and have a stop loss at the same time. I though I had to pick between the 2 and manually set up the third. Man this makes things way easy for me. Thanks.
Glad to hear!
Riley, you have a talent to teach. I have watched lots of videos on UA-cam on trading with ThinkorSwim and have found I learn more watching your training than all of the other videos on UA-cam, thank you so much for what you do, I have learned more from you that all the others. Thank you!
Instant subscriber earned before I even finished the video. Thank you for clear and comprehensive instruction and for not talking at breakneck speed. Well done.
You are such a gifted teacher. I almost gave up on trying to learn this. Thank goodness I found your channel. Your an excellent teacher. Thank you!
Riley, you are so good! Thank you so much for these videos. They are indispensable.
Glad to help!
man you explain things so simply. makes it really easy to understand. will be back... Thanks!
Thank you for this. Super informative and no fluff!! Thanks again.
This looks like exactly what I was looking to do - set up a buy, and sell both on profit and on cut loss side all in one shot - makes it a lot more feasible for me since I can't watch the market all day every day.
You help me a lot on understanding OCO. Thank You Keep up the good work
Thank you, great video. On Thinkorswim, what's the difference between the "OCO Order" and the "Bracket Order"? Buy the way, If you could make a video on "Marketable Limit Order" (range order), in which we can define to buy or sell for example the current price +0.05 or -0.05, it would be appreciated.
thank you for this video I've been looking for this everywhere !!!!!😊
Wow that was explained well young man. Thanks for the Vid.
You're Welcome!
Good video. I think explaining GTC would also be very helpful.
Thank you for speaking steadily that I could follow.
Nice work, Very informative, Please do more of these vids, Thank you
Thanks will do!
Thank you so much. This really helped me.
Super job on this video. You answered so many of my questions and then some. Thanks!!!
Awesome! Glad to hear!
Great! Now plz take us through how set an OCO with a vertical options spread.
Thank you I am new to trading all together and want to use thinkorswim just trying to get some basic understanding like you just provided, I am in demo mode
I’m still practicing doing think or swim.. thank you for the video..
Of course! Happy to help. Let me know if you have any questions.
I have a burning question. If I want to place an extended-hours OCO trade (1 buy, 2 sells) on TOS, exactly how do I do that? During the trading day, I would make a buy of X amount of shares at market price with a TIF of DAY. I would also put in two sell orders, one limit order and one stop order, both with TIFs of GTC. If I made that trade during extended hours, would the parameters be different?
Thank you. Excellent teacher
Just what I was looking for .. Thank You !!
That was an awesome explanation!! Thank you!!!
Does the OCO need to be placed when buying, or can we add it to an existing position?
Did you figure out how to do the OCO after you own the stock?
Pretty sure an OCO is an after order.
Dude! Thank you. This is a game-changer for me. I felt like I didn't have enough control over my entry/exit. I wonder if it's possible to setup dynamic brackets, similar to this, but that moves with the trend. For example, could you set it up so that it's a trailing stop with a limit that moves up with your trailing stop? Just in case it rips up and you sell too early... Great video!
Oh wow that would be sweet I don't know if you can do that. The best you can probably do is have a trailing stop then manually move up the limit.
Brilliant!!!!!! Thank you dude!
Great tutorial. Thank you!
Very helpful thank you!!!
Great stuff!! Thanks!
I'm so sad that your excellent video content cannot be seen toward the end of the video. I'm really needing to see this portion. Thank you so much for your work... it's the best I've seen on how to work on the ThinkOrSwim platform.
Hey Melissa maybe try to reload the video or try later? Seems to be working okay on my end.
Great video, thanks!
Ty, this is very helpful
this is great information thank you
Great tutorial. Thanks!
Great clear video
Awesome. Very useful. Thanks you !
OMG!!! Thank you, dear
Hello,
This was a great video thank you... but if u could magnify the screen that would be great..
Very helpful video!!...How are showing that blue arrow? I cant figure it out for the life of me.
Great explanation 💎💎💎💎💎💎💎💎💎
Good video, what if you already have bought the stock and want to place an OCO (after having purchased the stock), Will you please let me know the process? and the even more important question, how sure is this OCO process, could you trust it as to leave the order and go away of the computer for the rest of the trading session? Thank you.
Thank you for the information, can I use this for options trading to set up a stop loss and profit taking?
Hi Riley,
Thank you for the video. Does it make sense to simultaneously place a Buy and Sell OCO orders on a trade? The strategy is if I do not know the direction of the ticker, up or down, I would cancel out the order that did not get filled first. Would my win strategy rise to 100%? Noting that I assume the broker does not take commissions or fees for cancelled orders. Hence, my cost would also be reduced?
Thanks for your teaching
Of course!
Can you show how to set up a trailing stop for the sell order thats apart of the OCO bracket? For example, I want to buy AAPL and set up a trade to where I buy at market, sell if it hits 30% profit (or sell if it hits -15% loss). But as part of the 30% trigger, I want it to be a trailing stop just in case it moves higher.
Thank you for this!
Been enjoying all of your videos. If I have a OCO order with a limit order to sell and trailing stop loss and say I want to get out of a position right away, if I select any of the Sell buttons will it execute that and cancel the OCO order? Thanks!
Thank you for your video, can you add OCO to an existing order or do you have to click cancel and replace to modify?
Hi Riley, thank you for your great TOS platform tutorials! I have to use the light theme for my eyes and need to change the color scheme for the Active Trader and that OSO side bar on the chart (where you can change both Stop and Target at the same time). Do you have a tutorial on that? it is very difficult to find anything about it on their site! Thank you and keep up the great work!
First off Thank you for the information, would you please make a video on shorting a stock with a trailing stop in one order
So this would not be usable for options correct? Would you clarify what all trading this is usable with? I am talking about moving/sliding your bracket order up, and down on the scale. Thank you
Thank you. Is it possible with options ?
Thanks for the info.. can I cancel the sell limit profit. and keep the sell stop so I can watch to auto sell . and what is the lock 🔒 on the orders ?
Nice demo...but how to create OCO for existing order ?
Can you please use OCO for options?
Awesome job, thank you!
Once your in a trade via OCO , how do you bring up that particular trade to see you current PNL or pips or price depending on the asset you trade? Can you take some off also during the trade?
Just saw this video. the two OCO are DAY not GTC orders. So likely would not trigger since they would cancel at the end of the day you placed the order.
That was a great video.
One question i have, if i put in a stop limit order at 9$ and the stock trades down to 9.10 but has a big bid ask spread. Say 8.95 bid and 9.20 ask is their a chance that order will fill before the stock reaches 9$?
Excellent, clear, thanks
I would have thought the main use of OCO was putting multiple buy orders in hoping for a dip. As soon as the first one dips and the order is filled all the others are cancelled. Then you put your sell order in, wait for it to fill and do the multiple buy orders again. We never know when a stock will dip so why not be ready for several of them?
Great Job.
The best...Thank you soooo much!
Thank you
Another great video. Thanks
Thanks! I'll keep em coming!
Great video - I see you haven't posted in a while. Would be nice to see you make a comeback and post more great videos.
Hi Riley, great video. Question, is this possible to do this on Active Trader, ladder? If current price is at $100, I want the trade get triggered when price reaches $102. Can tis be done on Ladder in Simulated Trading?
Mr. Riley Coleman;
How are you sir? I have the same setup but I CAN'T MOVE THE BRACKET IN THE CHART, I mean the OCO bracket in the chart. I am using ThinkOrSwim. when I purchased the Option OCO, I go to the chart, and if I decide to make changes to the Option chart by moving the bracket, the bracket stay frozen, can't move them. Can you help me please? thanks.
Respectfully;
Andy
when you set a custom order on TOS, what is the trigger at mark/bid/ask and average price mean?
Great info, really appreciate the vid.
You're welcome!
I open two orders for a stock, but I want to set stop lost on the latest purchase units, would it able to do so? Example,
1st batch I bought 200 units of NIO @$30
2nd batch I bought 100 units @$25.
Can I set stop lost on specific 2nd batch only?
Thanks Riley for your useful video.
does this changing the limits sell or stop loss work on the chart if trading options? Thanks
I TRADE JUST 1 STOCK, have several thousand shares, I'm long but with high volume I'm looking to take small bites each day. Will your system of scalp work for me?
How do you place an options OCO without the Buy w/ or Sell w/ (for an existing order)???
(repost)Thanks alot! can u use a Trailing stop for your stop loss in a OCO bracket? im new to this & i havent seen anyone speak of it..seems no brainer to me but what do i kno yet! lol
How would you do this for Vertical Spreads?...Credit Spreads?
Cool thanks so much
Is there a way to implement this for the Premarket or Post Market hours?
can you help me with setting up an OCO for an option? I'd like to know how to set it up to limit my loss as well as walk away with potential profit. It's so confusing.
Well Done! Thumbs Up!!
helpful, thank you
I have a new guy type question here (barely 2 months in) I am trying to learn to day trade with possible forays into swing trading when I get more consistant and competent. I have work comittments the next two weeks that wont allow me to day trade, I will have at best sporadic access to the internet and probably mostly by phone or tablet instead of computer. I am looking at some stocks that I think will run up this week but cant keep a close eye on. If I enter some OCO bracket orders in tonight with trailing stops would this be a good strategy? My thinking is I would enter the order tonight setting the buy price to either market or limit which will float with the market and activate when market opens. If the stock runs up I'm good, if I dont fill at open which often happens with TOS right at market open, at least I have no loss, if it does fill and drops and I stop out, no profit but I limit my loss. If I do fill and it runs and I enter a trailing stop (I have advanced features selected on TDA) I stop out with profit after it runs and then drops. I have tried running this on On Demand on TOS but TOS is so laggy at night when my wifi slows down that it's like pulling teeth trying to run this drill. COuld use some input. Thanks
Great stuff. I have learned many things from your videos. Want to know if you can do a take profit and sell before to much loss on a vertical option put credit spread?
Also if it can be done in the mobile android app??
nice and simple
Hi Riley as usual very informative thank you as always, i have just one question. Say you want to adjust stop limit would you have to pay trading fees again every time you change your order?
No you only pay the fees when you get filled on the trade.
not no more, baby! woo woo!
What if I already own shares and want to set up an OCO order? When I try this it still comes up with a "buy" option but I don't want to buy anymore I just want to set up my limit and stop loss for the shares I already own. I like to only buy a few shares initially until I see a reversal confirmation and then I up my position.
Sorry for late reply. So if are wanting to make the OCO bracket without the initial order? The easiest way to do that is go to monitor tab and right click on your position. Create closing order -> With OCO bracket and that will create one for you. Or in the active trader tab you can go to the templates and click OCO and that will create one for you also.
Riley Coleman Great thank you so much!!
@@RileyColeman I have the same question!!!! thanks
Can you show us more in depth and for options please
Regarding the original buy order in this scenario, can you make it a limit order instead of a market order. Like say I want to buy the stock at 7.00 but the price is currently trading at 6.69.
Hi, Can I exit from the oco order to get less profit and is there a way to implement the oco order more quickly?
when your moving the orders up and down is the broker charging you every time you move your order
Thank you! 😍👍🙏
Thanks for the. Ideo👍
Do you need to own 100 shares for the oco to be put in? My broker acct had a pop up that mentioned ocos happen in 100 trade lots
Can you use the OCO order for option trades?
What about if you want to sell for a profit a small lot half way through your target, and let the rest run to your set target, using your Active Trader Tab? Let say my target is set at $15 But you want to sell 1/3 at $14.50 and let the rest hit your original target. How do you do this on your active trader tab? Thanks
How do you add a bracket to an existing order that has already been filled?
You can create a stop order and a limit order and link them together without having to create the fill over as well. This video talks about creating advanced order types which should point you in the right direction. Let me know if you need more help though. ua-cam.com/video/YFkbDwF105Q/v-deo.html