If-Then OCO Order

Brief

The section explains how to create, modify, and delete an If-Then OCO order.

Details

An If-Then OCO order contains a primary order, which is an entry order, and a secondary one, which contains two entry orders linked together to form an OCO order. The primary order has no amount value, its value is always 0. Thus, the order is not executed when the market price hits its price value but simply triggers a placement of the secondary (OCO) order. In other words, the primary order sets a condition for the secondary order execution.
Placing an If-Then OCO order automates the trading process: a trader does not need monitoring when the market price reaches a certain price value to trigger the secondary order. Thus, If-Then OCO orders save your efforts and time making the trading easier and more efficient.