Gloucester MA/US
Posts: 1 since Apr 2015
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Good morning everyone,
I have a question regarding TOS complex OCO orders. I am primarily a forex trader using TradeStation. I've been getting back into Options Trading with TOS(Did it years ago, but got side-tracked by my forex trading).
I have developed an options day trade strategy that I need help with placing the orders with, as it appears the types of orders I can place in forex aren't apparent to me on TOS for options.
This is how the strategy works.
I set the orders usually the night before(the strategy is based on mostly a opening breakout).
Because I am unsure as to which direction the market will move immediately in the morning, I want to have 2 orders setup, Long & Short with Limits & Stops based on the underlying stock price.
If the long order gets triggered I want to close the short order, visa-versa.
Profit: I want to sell half the contracts at a specific level and sell the other half MOC.
I've been attempting to paper trade this, but for reasons I have no idea the system has triggered both the Long and Short trades at the same time. Example today it bought 2 contracts long & short, and the short almost immediately got stopped out as the price moved long hit my first target for the long(MOC - Long is still open).
If anyone can point me to some resources for advanced order placement or knows what I am talking about that can help me out. That would be great, I am having a difficult time searching for what I am looking for.
Disregard, after a couple of days search than posting this thread I managed to find what I am looking for(I think).
Thank you,
- windsorhaze
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