1st trg OCO - what is this one doing?

FoxEatsGekko

New member
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.

aK1TaW0.jpg
 
@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...???
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

@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.
 

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
344 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top