https://youtube.com/watch?v=oNFIb03Eeb4
Hello sellers, I’m Anthony Panzica And I’m, going to show you how to create a one cancels other ordering, also known as an OCO on the thinkorswim scaffold. Let’s just prance right into it, And OCO is a pair of degrees that are linked, signify if one prescribe implements, then the other order is automatically canceled. Solely an OCO order combines a stop guild with a limit order. Sellers can place these fiats simultaneously to define a profit target while simultaneously arranging a stop loss to potentially restriction loss. 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 Make form in your epitomize For today ,’ s pattern, we’re going to use Apple. You’re going to go over to the price When you hover over expenditure, 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 fiat 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 fiat 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 thread. The second way is the target That’s, the cost 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 cost or you can manually sounds in the following areas and character in your cost. There Then, on the next thing, I recommend going to change these says. These second two degrees 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 get changed that to Good Til Canceled as well, Because remember at the end of the day, if you have a day order in there, those orderings will expire At the end, So, if you don’t get filled, those OCO orders will be gone. So now we have a 225 stop. You can simply refer that off to the exchange and boom 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 markets Working Orders is the tab. You’d want to click, 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 degree to change the price. Another really cool feature about the stage is that you actually flip over to the chart and change your tolls from there. So we’re going to flip over to the chart, mutate our representation to Apple and we have to have it on a date show in order for this to work, And you can see right there, you have your target limit on top and your stop ordering Below You can simply offset supplant these by draw and quitting them on the platform You can take also the whole bracket by coming the little handwriting to appear, And if I want to, I can simply drag this up. If I wanted to raise both of my tolls up And an tell, approval, dialog comes up there with the parallelling costs. If you’re not joyou to those used costs, simply click Edit Go in there and then you can manually adjust the prices. Too, you can do these separately, So if I wanted to adjust only the target on top, I can simply take that and lag it down Order. Confirmation, dialog comes up. You can simply hit Send if you’re, OK with the cost in the box And that’s, how you create an OCO order on the thinkorswim stage For more seminars and free investor education, you can go to TD Ameritrade’s, YouTube channel or the Td Ameritrade education center
