DOM and Chart Trader entry and Exit strategies
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jeff w
DOM and Chart Trader entry and Exit strategies
I am having trouble understanding how to use the OCO and bracket functions of the dom and chart trader. is there a link to a document that explains in detail what each feature does and how to use it?
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Henry MultiСharts
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Re: DOM and Chart Trader entry and Exit strategies
Hello Jeffw.
MultiCharts supports one-cancels-other orders. An example of an OCO order would be a bracket order. In a Bracket order, both the profit target and the stop loss orders are sent at the same time. If the profit target order is filled, the stop loss order is cancelled. If the stop loss order is filled, then the profit target order is cancelled.
Note: If the price target and stop loss are very close to each other, and the market is volatile, it is possible that the other order will be filled before it is cancelled.
For more information please refer to the Multicharts help file (Help tab-> MC Help file in the main window of Multicharts->Working with auto-trading) and this web page:
https://www.multicharts.com/exit-entry-automation/
MultiCharts supports one-cancels-other orders. An example of an OCO order would be a bracket order. In a Bracket order, both the profit target and the stop loss orders are sent at the same time. If the profit target order is filled, the stop loss order is cancelled. If the stop loss order is filled, then the profit target order is cancelled.
Note: If the price target and stop loss are very close to each other, and the market is volatile, it is possible that the other order will be filled before it is cancelled.
For more information please refer to the Multicharts help file (Help tab-> MC Help file in the main window of Multicharts->Working with auto-trading) and this web page:
https://www.multicharts.com/exit-entry-automation/