ThinkorSwim Tutorial - How to place OCO and SEQ Orders

This trading tutorial explains how to place OCO and SEQ orders in the Think or Swim Trading Platform. By the end of this article you will be able to easily place advanced orders on your own. This tutorial follows the trading guide: Think or Swim Tutorial - How to place "Advanced" Buy and Sell Orders. Before reading I recommend visiting the Link above.

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.

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

In order to place any Advanced Order you should normally start creating a new order in the “Trade” Tab. Any time you create an order, as already explained in the article “How to place buy and sell orders”, it appears on the left side on the bottom of the page the Advanced orders Menu. It is set by default as a single order. It means that any new order you place will replace the existing order in that menu before it is send to market. As a result, the new order will be sent to the market and the previous one will be cancelled.

There is a way to place two or more orders at once and to do so you must use the Advanced Orders menu. If you open that menu you will see that it is made up of different types of order you can select and use:

1. Single Order;
2. Blast All;
3. First Triggers Sequence (1^st trgs Seq);
4. First Triggers All (1^st trgs All);
5. First Triggers OCO (1^st trgs OCO);
6. OCO.

• Single Order, it works as already explained above.
• Blast All, it allows to send up to 8 orders at once. What’s more, each of these orders is completely independent that means you can choose a different number of shares, mix market and limit orders, make some orders good for the day and some Good-Til-Cancelled and so on.
• 1^st trgs Seq, it allows to set a sequence of orders to sent to market. If the first order is executed, it triggers the second order. If the order number 2 executes, it will activate order number 3 and so on. This is anything that a normal sequence order.
• 1^st trgs All, it allows to set a principal order from which all other orders are dependent. If the first order executes, orders 2, 3 and 4 will all be submitted. In this case all orders depend directly and only from the first one. If the first order is filled, it activates all orders linked to it.

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

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

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

• 1^st trgs OCO, itallows again to set a principal order from which all other orders are dependent. But in this case if the first order is executed, it activates orders 2, 3 and 4 as OCO orders. When the first of this three OCO orders is filled, it triggers a request of cancellation of the remaining two. With this conditional order you should only get filled a maximum of two orders: the first one and only one of the three OCO orders.
• OCO, it allows to set more orders all marked as OCO. It means that when the first order fills, it will trigger a request of cancellation of the remaining orders. In such a case you should only get filled one order.

Check out the Think or Swim Tutorial - How to place "Advanced" Buy and Sell Orders.

In the next GroWithYou Trading Tutorial:

• Mechanics of Stops and a “warning”
• Stop Limit Order (LMT)
• Stop Order at the Market (MKT)
• Placing Stop Orders in the Think or Swim Platform - Use of the “Trade” Tab

Keep learning about how to place stop Orders & stop Limit Orders by going to: Think or Swim Tutorial - Placing Stop Orders and Stop Limit Orders.

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

Moreover, this guide contains a mini “free video tutorial” prepared by the professional traders of the "Options A to Z" company that can help you in understanding all the concepts discussed in this article. For further information visit the website at www.optionsAtoZ.com.

Watch the following "Free Video Tutorial”

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: