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Track 'n Trade LIVE Forex

How to Place Orders with the Q-OCO Buttons

Video Transcript

Okay, let's go through and place some orders with our new Q-OCO buttons. The first thing I want to do is I want to place a market order. I'm going to use the 30-Stop, 50-Limit, the one we just created. To do that, I very simply just have to hit the Q-OCO 1 button. By doing that, because it's a market order, it pops up the order confirmation dialogue box. If I don't want to see that, I can hit the "don't show me this again" and go into the One-Click order placement tools, with Q-OCO's as well. I go ahead and hit Okay, and it automatically places that order into the screen. You can see that it was filled at the market and placed my Sell Limit and my Sell Stop at the same location as specified in my drop-down window.

Let's go ahead and Exit the chart on this one. This will remove our positions. Let's do the next one, let's do a Sell Market and this one again, is at the 25-Stop and 4-Limit. This is the default, so, again, we just hit Q-OCO, "Don't show me this again" if I didn't want to see the dialogue box, again. Hit okay. As you can see it automatically placed our short position automatically placing our Buy Limit and Buy Stop in the specified location. Let's Exit chart on this one.

To do the next Q-OCO, the OCO 3, this is a Stop, I've got this one set up as a Stop: 25 with Stop-45 Limit. We can come in here, I'm going to click Q-OCO 3, notice this time that rather than placing the order automatically because it's a stop order, rather than a market order, it lowers the curser with the arrow. Now I can drag the arrow up and down on the screen and as you can see, I can come in here and raise it above the market and get a green Buy, or below the market get a green Sell. That's my Stop order, automatically placing the opposing Stop and Limit for my OCO orders. I can go ahead and release my mouse button. It gives me the Order Confirmation box. Again, I get rid of that by saying "Don't show this to me again". Hit okay. It then places my order into the market. Again, this is activated so that these orders, the outside orders- the Limit and the Stop will not fill until the Master order is not filled first. If the market begins to rally does not fill our master order then this order will not fill if the market goes through that price level.

Let's go through, let's Exit the chart. Let's do a Limit order. Again, it's going to be the same thing- we can come in here and again, a Limit order is to sell above the market. It's going to Buy below the market, and you'll notice that the Sell Limit and Buy Limit go to the opposing side as you drop it over or above the strike price. That is an example of using a Limit order with a Q-OCO. We go ahead and hit okay. Once again, if the market drops down to this level, hits our Limit order before it hits the Master order, the Limit order will not fill, unless the Master order is filled first.