Think or Swim Tutorial - How to place "Advanced" Buy and Sell Orders

This trading tutorial explains how to place “Advanced” Buy and Sell Orders in the Think or Swim Trading Platform. By the end of this article you will be able to easily place OCO and SEQ orders on your own. If you find this tutorial interesting read ThinkorSwim Tutorial - How to place OCO and SEQ Orders.

How to place the most rewarding options strategies from scratch? Visit my website at www.FromZeroToOptions.com to get tutorials, instructions, articles and much more stocks and options related.

---------------------------------------------------------------------------------------------------------------

Advanced Orders are conditional orders, also called “Triggered Orders". It means that all orders are tight together in some way, so that when one order is filled, it is automatically activated another action.

Think or Swim offers many variations of conditional orders which are all created by using two main types of advanced orders.

OCO Orders

The first are called “One-Cancels-Other” (OCO) Orders. It allows to send two or more orders at the same time. When one order fills, the others are cancelled. In this case each order must be a limit one and the reason is why “Market” orders are guaranteed to fill, so we can’t use conditional orders in such a case. For any single order filled, the remaining orders are cancelled. The important thing to take in mind about OCO Orders is that only one order can be filled. However, there is one exception. If your limit prices are hold very close to current market prices then it is possible to get multiple orders filled with OCO orders. That happens because the other orders are filled during the few seconds it takes to the computer to submit the request to cancel them. Be sure your limit prices are sufficiently far from current market prices in order to make the best use of OCO orders.

Free Tutorials - Stocks, Options and ThinkorSwim. Click Here.

SEQ Orders

The second are called “Sequence” (SEQ) Orders. Sequence orders work a little different from OCO orders. It allows to send two or more orders at the same time, but in this case when the first order fills, the second one is activated. Then when the second order fills, the third one is activated and so on. The execution of SEQ orders must occur in the sequence we have set. With a Sequence order is possible that none of them get filled and it’s also possible that all of them do.

Using Advanced Orders in Think or Swim is very fast and easy. It is a great tool for logging into various strategies or link more things into one. Understanding these invaluable tools put you one step closer to became a Master Trader.

---------------------------------------------------------------------------------------------------------------

Do not forget to visit my website at www.FromZeroToOptions.com to get tutorials, instructions, articles and much more stocks and options related.

---------------------------------------------------------------------------------------------------------------

In the next GroWithYou Trading Tutorial:

• How to use OCO and SEQ orders in the ThinkorSwim Trading Platform
• Bonus - Free Mini Video Tutorial

Keep learning about "Advanced" Buy and Sell Orders by going to: ThinkorSwim Tutorial - How to place OCO and SEQ Orders.

If you have found this article helpful remember to:

- Rate it up

- Share it

- Leave a comment or question

- Add you as my follower to get my next Hubs

Not yet an HubPages Member, sign up from here: