ToS Trade with Triggered OCO and Stops



Despite reading all the related material on Internet and ToS, I am having trouble understanding and executing
orders on ToS.

Basically I want to execute a long position. So I enter a Buy order for for 254.40 with OCO so that there is stop limit
order for 212.23 (to cut my losses if the stock goes down. I add a trailing stop with -4 to keep my profits

However I discovered both the sells were done and I ended with a short. I thought OCO would cancel the the stop limit

What did I do wrong and what should I have done?

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Posted by (Questions: 3, Answers: 1)
Asked on February 13, 2020 2:31 pm
Private answer

This forum is here to provide custom thinkScript solutions. Your question should be directed to the trade desk at TD Ameritrade. They can explain how to create an OCO order to achieve your goals, if it is at all possible. It may not be possible. An OCO order contains a limit order for the profit target and a stop loss order for the stop loss exit. Having an OCO with two stop loss orders is a bit of a monstrosity. Such things simply should not exist. Just because you can construct one does not mean it's appropriate or that it will work. Sort of like using a screwdriver as a pry bar. Most of the time you can get away with it. Until you don't.

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Posted by (Questions: 36, Answers: 2445)
Answered on February 13, 2020 6:17 pm