Building a Bracket Order without First Buying a Position

WayneG

New member
VIP
Hi, I'm trying to build a bracket order currently not in ThinkorSwim.

Let's

start with a standard OCO order in Active Trader, there are 3 parts to it:

  1. Buys a position in the market;
  2. Establishes a Limit order above the Buy to take profits; and
  3. Establishes a Stop order to minimize any loss.
What I want to build is used after a consolidation period:

  1. Establish a long buy that execute if the breakout from the consolidation goes long;
  2. Establish a short sale that execute if the breakout from the consolidation goes short;
  3. The order that executes will delete the opposite order.

So far, I have talked to Platform Support and the Futures Trading Desk with no luck. The gentleman at Futures had heard of it and used it on another platform.

Your help is appreciated,
wayneG
 

Thomas

Active member
VIP
@WayneG I suggest looking through YouTube to build your order. There were,....although looks like they disappeared, a site that was helpful. I don't recall the name either.......
 

wtf_dude

Active member
what's your holding period? because really you can just put a buy stop and sell limit order at your breakout lines. If one is hit then you don't really need to worry about the other, you can cancel it out manually later.
 

WayneG

New member
VIP
Hi, took some time, but I finally figured out how to make the video and publish it.

There is one small problem, there are instructs that will appear, however the video editor only allows them 3 seconds before continuing, so keep a finger on the PAUSE BUTTON, some of them are a little long.

Let me know what you think and I'm more than happy to answer questions.

Good luck,
Wayne

https://www.amazon.com/clouddrive/f...bw_h1_USADNHEE_bn_w&_encoding=UTF8&mgh=1&sf=1
 
Last edited:

wtf_dude

Active member
Hi, took some time, but I finally figured out how to make the video and publish it.

There is one small problem, there are instructs that will appear, however the video editor only allows them 3 seconds before continuing, so keep a finger on the PAUSE BUTTON, some of them are a little long.

Let me know what you think and I'm more than happy to answer questions.

Good luck, wayneG

https://1drv.ms/u/s!At-J8C88BYVCgZJEYOmoITEx0IcfAA?e=NxwEuL
deleted already?
 

Thomas

Active member
VIP
Hi, I'm trying to build a bracket order currently not in ThinkorSwim.

Let's

start with a standard OCO order in Active Trader, there are 3 parts to it:

  1. Buys a position in the market;
  2. Establishes a Limit order above the Buy to take profits; and
  3. Establishes a Stop order to minimize any loss.
What I want to build is used after a consolidation period:

  1. Establish a long buy that execute if the breakout from the consolidation goes long;
  2. Establish a short sale that execute if the breakout from the consolidation goes short;
  3. The order that executes will delete the opposite order.

So far, I have talked to Platform Support and the Futures Trading Desk with no luck. The gentleman at Futures had heard of it and used it on another platform.

Your help is appreciated,
wayneG
I don't know if you are trading or saw this,...but,.....
 

Similar threads

Top