OCO_Multiple Trader is a trading tool working with X_TRADER PRO, TT`s premium trading software.
During times of market volatility, it is even more important to keep an overview of your trading strategies.
OCO (One Order Cancels the other) allows you to choose a target price and to set a stop-loss before entering a position.
OCO_Multiple Trader offers a variety of strategies before entering the trade.
The Program places multiple orders on your instruction with your chosen parameters.
OCO_Multiple Trader is characterized by a high degree of flexibility and a distinctive capacity to act in different market phases.
The advantages are obvious:
- Allows you to place your orders in the most convenient way
- Semi –Automated risk and Money Management
- Plan your strategies before entering the trade
- The human emotions are eliminated and the concentration is increased
Upon starting you will see the following window (main window).
Selecting Instruments (drag&drop)
You can drag the selected instruments from the Market Explorer window to the main window.
Different contracts can be dropped from X_TRADER’s Market Explorer window to the OCO_Multiple Trader.
At present, there are not planned orders (Column “OCO” shows “0”).
The program is designed to handle OCO( One Order Cancel the Other)”, consisting of an entry, a target and a stop-loss order.
You can either setup each OCO manually, or use an assistant, which will make it easier to create multiple orders, or a mixture of both.
OCO Settings (Long/Short Dropdown)
OCO Orders Create
Here you can see the planned OCO Orders, created by the assistant.
The Entry of that OCO Order will be placed 10 Ticks away from the market (Entry ticks).
Entry selections is “Both” = (Long and Short) with a Lot size of 1.
The Stop order (Stop Ticks) is a Stop Market Order (Stop Type), 20 Ticks away from the Entry.
The Target (Target Ticks) is 5 ticks away from the Entry.
When all OCO Orders have been created, close the window by clicking the X button in the upper right corner
40 OCO Orders are planned for the Instrument CL Aug12
20 Long Entries / 20 Short Entries
OCO Event Schedule
In order to avoid being surprised by Economic Events (News), you will have the opportunity to be informed about Current Events so that you can react quickly to fluctuations.
Each product has its individual set up.
Working Orders Behaviour
If you do not have open Positions during the Events (News) all your working Orders for each selected product will be deleted.
Open Positions und Working Orders Behavior
OCO Event Action integrates three Options during the Event.
- Remove Order
- Continue OCO behavior
- Close positions by market (default)
OCO Event »Action«
If you see this window, you currently have a position in the market which is managed by the program, and an Event is about to begin.
Once it appears you have 20 seconds to decide what should be done.
you have 20 seconds to select an action.
This Feature offers the possibility to select an individual stop price level Independent from the OCO_Multiple Trader settings.
Once reaching the selected stop price all Open Position closed by market and all working orders will be deleted.
Selected stop orders are highlighted yellow on MD Trader
To start trading you have to mark the Instrument as “Active”.
Place OCO Order
If the Instrument is “Active”, trading is not prohibited (either by a current “Event”, and trading has not already been started, you will see a button labeled “Place Orders” which will execute your planned OCO Orders.
|CPU / Processor
||Dual Core 2,0GHz or better
||Windows XP Pro.SP3 / Windows 7 (Pro) 32bit / 64 bit
||Microsoft .NET Framework.3.5; Microsoft .NET Framework 4.0
||7.11.5 or higher