1st trg OCO - what is this one doing?

FoxEatsGekko

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This is a 1st triggers OCO order type. From the looks of how this is set up, could anyone tell me what each of these 3 orders is set up to do? In this particular situation, my goal is to buy when the price rises above $53.20 but pay not more than $53.25. The second order is a simple trailing stop of 10 cents set to "LAST".

The intent of the third order is to set a stop price at a penny below the entry as evidenced by "TRG". I think my concern here is what references are made by "LAST" in order 2 and "TRG" in order 3. LAST of what? And TRG of what price or event? Just making sure I understand the settings in the Link field, basically what they are linked to.

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rad14733

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@FoxEatsGekko Your last leg of the OCO would Sell at Market as soon as the Last trade price drops below the Entry price... Therefore, if you were to get filled at $53.25 and the price fell one cent, to $53.24, your position would close... Is that what you really want considering the $0.10 TrailStop...???
 

FoxEatsGekko

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@rad14733 I was hoping to set a hard stop right below my entry so yes. Once the price moves up more than 10 cents, the last trade would never be executed because the trailing stop would now be closer than the (entry price - .01). It's basically designed to have zero tolerance for the price dropping below the entry price even though that might only work about 5% of the time. This was my goal in this scenario. I just wanted to make sure the last order was placing a static stop and not something that moves like a trailing stop.
 
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