https://youtube.com/watch?v=oNFIb03Eeb4
Hello buyers, I’m Anthony Panzica And I’m, going to show you how to create a one cancels other degree, also known as an OCO on the thinkorswim pulpit. Let’s just jump right into it, And OCO is a pair of orders that are linked, represent if one say performs, then the other order is automatically canceled. Specific an OCO order combines a stop tell with a limit order. Sellers can locate these requires simultaneously to define a profit target while simultaneously arranging a stop loss to potentially restraint losses. So here’s what you’re going to. Do You’re going to go over to the Trade tab, make sure you’re under All Concoction sort in your mark For today ,’ s instance, we’re going to use Apple. You’re going to go over to the price When you hover over premium, you’re going to see that it says Symbol, Menu, Simply left sound scroll down hover over Buy Custom click on with OCO Bracket. Something interesting happens in the bottom of the screen. The prescribe ticket comes up to buy 100 Apple at a limit price, And then a limit price is also below that. That would be to take a profit, And then you’re going to have a stop lineup below that to take a loss. I recommend going through this order ticket left to right top to bottom, So we’re going to walk through one Buy 100 Apple. We can change this to market if we want an execution right away And then we’re going to go down to our second string. The second front is the subject matter That’s, the expenditure at which you’d, want to take a profit. So we can set that to any price. You crave Let’s make it. You can use the up or down arrow to adjust the price or you are eligible to manually click in the field and form in your cost. There Then, on the next thing, I recommend going to change these requires. These second two says to Good Til, Canceled And then on your final bottom line. You’re going to have sell 100 shares of Apple, It’s going to say Stop, And I would change that to Good Til Canceled as well, Because remember at the end, if you have a day order in there, those fiats will expire At the end, So, if you don’t get crowded, those OCO orders will be gone. So now we have a 225 stop. You can simply route that off to the exchange and thunder Bought 100 shares of Apple. Now what you want to do is flip back to the Monitor tab. Remember the Monitor tab is where we’re going to go to monitor all of our positions and monitor all of our trades Working Orders is the tab. You’d want to clink, And then you could see that we have the working OCO in there. You can right click on either of those and simply click on Cancel, replace guild to change the cost. Another really cool feature about the stage is that you actually flip over to the chart and change your expenditures from there. So we’re going to flip over to the chart, convert our emblem to Apple and we have to have it on a era map in order for this to work, And you can see right there, you have your target limit on top and your stop dictate Below You can simply offset change these by long-drawn-out and slipping them on the scaffold You can take also the whole bracket by get the little side to appear, And if I just wanted to, I can simply drag this up. If I wanted to raise both of my tolls up And an degree, verification, dialog comes up there with the befitting expenditures. If you’re not joyful with those rates, simply sounds Edit Go in there and then you can manually adjust the prices. Likewise, you can do these separately, So if I wanted to adjust simply the target on top, I can simply take that and lag it down Order. Confirmation, dialog comes up. You can simply punch Send if you’re, OK with the rate in the box And that’s, how you create an OCO order on the thinkorswim platform For more lessons and free investor education, you can go to TD Ameritrade’s, YouTube channel or the Td Ameritrade education center.
