2 limit orders at once

• 01/16/2024 at 11:17 AM #226411
  ashehzi

  Hi,

  Sorry if it has been discussed before. I did try to do a quick search and find the answer but no avail.

  I want to do the following e.g.

  IF LONGCONDITION THEN BUY 1 CONTARCT AT ZoneFront limit BUY 1 CONTARCT AT ZoneBack limit ENDIF

  1 2 3 4 5 6 7

  IF LONGCONDITION THEN   BUY 1 CONTARCT AT ZoneFront limit   BUY 1 CONTARCT AT ZoneBack limit   ENDIF

  The idea is I want to leave 2 orders, one at the front of the support zone and one at the back of same zone. I don’t want 1st limit order get overriden by the 2nd.

  Thanks

   

  

  ashehzi

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  01/16/2024 at 12:00 PM #226416
  robertogozzi

  Your orders will be both placed and might be both triggered, as there is no OCO support.

  They are automatically cancelled when triggered OR when the bar closes (you’ll have to place them again and again if not triggered and you still need them).

  Be warned that LIMIT and STOP orders are different and should be placed not at your chioice, but according to their rules (as per attached pic). STOP orders need to be chosen when the entry price will be worse than the current one (i.e. you plan go either Long at a higher price or go Short at a lower price), while LIMIT orders should be chosen when the entry price will be better than the current one (i.e. you go either Long at a lower price or go Short at a higher price).

  Failing to abide by this rule may imply a trade is entered at market.

   

   

  1 user thanked author for this post.

  ashehzi

  

  robertogozzi

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