LMAO...Was that a painful excercise back then? lolzzzzzzzzzz...

OCO ?.

Have XYZ @ 2. Have to leave for a while. Want to profit, or, protect.

Set stop @ 1.90
Limit @ 2.50
Opens @ 2.05(+/-)and starts to climb.

MM sees my stop @ 1.90, reaches down - snags it, (2nd order now dead), and the price keeps rising . . .

Had this happen and missed a nice pop. What to do . . .
____________________

"You get filled 1 share on the buy side and they cancel the whole deal????????"

'AON' a solution?

Well the OCO thing could be good for setting up ladders after a halt without screwing up buying power.

So you know a thinly traded stock is most likely gonna tank bigtime and then recover after a halt, just don't know how low to put your price to get a fill. So just put progressively larger buys lower and lower, using OCO to allow you to double your buying power.



Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

LOL

Actually I also sent this from their help section on trade type-OCO along with my (your) question.

OCO - Order Cancel Order
------------------------
This allows you to enter two orders, one at a
time, that are linked together. Both orders
are submitted for execution. When one of the
orders is executed a cancel order is automatically
submitted to cancel the other order.

There is a possibility that both orders will get
executed if the other order executes before the
cancel is processed. Also, the cancel is only
submitted when one order is filled completely. So
it is possible that you could have a partial fill
on one order and complete or partial fill on the
other.

As I am still confused on this, I don't think I will be experimenting with it yet. I might try the OSO option though.

OCO orders could also potentially double your buying power.

Imagine there were 2 stocks you wanted to buy, didn't care which.

OCO will cancel 1 order when the second is filled.

I need to try this out, see what really happens to partial fills.

I'll waste $100 or so trying it tomorrow.

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

I just noticed that your response was from duh!-wayne

that explains alot

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

LOL, excellent answer from mytrack as usual.

WHAT ORDER IS CANCELLED?

You get filled 1 share on the buy side and they cancel the whole deal????????


At mytrack it appears they have 1 brain, and they pass it around from person to person. You need to determine who has the brain on the day you wish to have an intelligent answer.


Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

Wayne,

I sent this question to Mytrack and the following is their reply. Thanks for the information.

"So I wonder what would happen on an OCO order if you had a stop for 1000 shares at 13.75 and a sell for 1000 at $15 at got partial fills on both sides?????"



Thank you for selecting myTrack. You should not get a partial
fill on both sides because once you get a fill on either side of
the order the other order is cancelled. If you have any question
feel free to contact us via email or phone 1800-698-7225.
Thanks,
Dewayne

It comes down to how they programmed the system Wayne.

You will either have to ask or test it out ! <ggg>

Another thing I would be concerned about is just the basic fact that this is a real time transaction and database management system. Heck ! Even I've had situations where I've had a sell order, cancelled it, placed another order .. only to find out that BOTH EXECUTED and I was short X,000 shares. On an OTCBB stock no less.

Looking back, I should have kept the short position open, lol.

Anyway I know you guys are constantly opening and cancelling orders lightning fast and I'd wonder just how long it would take for you to totally confuse the heck out of the database transaction locking mechanisms of MyTrac.

I know that they lost track of a huge position you once had, I just remember last year you guys having all sorts of problems. maybe it was because of the high OTCBB volume and those issues have been resolved.

I guess what I'm saying can be summed up by this: "Are you sure they have all the bugs worked out ?"

Good luck tomorrow,
Chris

OCO orders

From sending in my OSO orders I know that the 2nd part of the order is only sent in when the first part is filled.

So I wonder what would happen on an OCO order if you had a stop for 1000 shares at 13.75 and a sell for 1000 at $15 at got partial fills on both sides?????

With OCO you have 2 live orders.

I don't know the answer, if someone does, please explain.

Could be the system starts reducing the order size with fills, or it could be you'd find yourself short 900 shares

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

Thanks Wayne.,

Started playing with these options 2 weeks ago.
Discovered deficiencies, (mine - lol), first.

Tutelage appreciated. (and printed)

Tnx again,
JR

Hey ! iHub's "Hot List" feature is active.

So far it just lists new subjects.

For a second there, I thought this thread was on iHub's first "Hot List". lol

Chris

Hi Wayne, very interesting ....

As you alluded to ... people better be comfortable in the principles of boolean logic (True/False ... IF-THEN-ELSE logic) before attempting some of those manuevers.

Since it costs me more that $5 per trade and its not my goal to make money trading stocks $50 at a time, it is probably not for me.

But its great to see some of the features your getting with MyTrack, because there have been many times where I have wanted to have both a stop loss and a limit sell in on the same position ... and my online broker only supports once order.

But maybe they are planning more complex order entry logic or maybe they even allow it and I just don't know how to tell them.

Thanks again,
Chris

HOWEVER....

Be careful. I've used OSOs only a few times and screwed it up badly once.

I set up an OSO to buy a stock at lets say .10, then the second part of my order I meant to set it up to sell at .25, BUT instead I put BUY @ .25.

Stock was around .13. I sent this order in for pre-market. Had I been filled on the first part of it I'd have been raped on the 2nd part. Fortunately the first part of the order was never filled, so the second part never got sent.

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

OSO = Order sends order

When would this be usefull, to have a sell in as soon as you buy it?

1. Stock that had news and was all over the map then went flatline. Buy at the bid, sell at the ask over and over.
2. IPOs, they move so fast you could prepare 25 OSOs and send them in one after the other as fills come in
3. After a halt. Prepare several OSOs and send in one based on market sentiment to the news.

I'm sure others will be able to contribute other meaningful uses for this.



Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

I'm going to ignore OCO orders for a while, they have me hung up, when I get through with OSO orders it might be clear why.

next message...

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

First step. Make sure you have the latst mytrack version. (I think it's 4.3.22)

There are 2 types of conditional orders;
OSO = Order sends order. Which means you send in a buy on a stock at a limit price and the moment you get filled you send out a sell at a limit price. Or some other combination that you like. The point is when you are filled, the second order is sent.

OCO = Order cancels order. The basic premis of this one is that you buy a stock at, lets say, $14. You set up this order to stop out at $13.75 or sell at $15. Whatever order gets hit first cancels the other. (At least I think)

OK Chew on that, I'm busy calculating endless possibilities........

Wayne - PTGIDLMAOTT
This is not a recommendation to buy or sell securities. I have most likely purchased this stock before mentioning it (how stupid do you think I am???). If you wish to run it up 100% or more, I thank you in advance.

I'm listening Wayne... though mycrap ignores the Canadian market LOL.

signed,
Bernard