OCO orders with FX broker ?

[nba_1]

And I'd want to do that for you why exactly? What, because you asked so politely? Because I feel sorry for you? Because it's Christmas? You don't have to be computer literate to work this out, just literate.

Doh! On the FXCM platform if one gets filled the other one gets CANCELLED! Which bit of that are you having difficulty understanding?

Friend, let me save you some money and time, get a job burger-flipping 'cos this ain't no place for the cerebrally challenged!

Nice chatting with you, have a nice life, goodbye....

Mick

Mick,

Infortunately, I am too qualified to get a job such as "burger-flipping".

I do have a degree in economics and I work in a financial company where I execute trades for blind gamblers.

It is not necessary to be harsh on you, everybody has to start somewhere. Though you are British according to your flag. Therefore, you should fully understand the wording in the fxcm website.

In the inter-bank market you can let a buy limit and a sell limit and oco them. It has nothing to do with the stop or the limit attached to one of the order.

Here is the answer from the fxcm sales I've chatted with :

FX&U: with two seperate entry orders you are not able to automatically cancel one by the creation of hte other
FX&U: once one is canceled the other will need to be manual deleted

By the way, the sales said they will consider the request and see if they can add it too. If you can do it in the inter-bank market you should be able to do it with retail fx brokers.

[MickMason]

Hmmm, against my better judgment I'll reply to that, but it's only because I'm feeling seasonal!

FXCM Sales told you "with two seperate entry orders you are not able to automatically cancel one by the creation of hte other " which is true, why would you want to set 2 entry orders and cancel one if the other was filled?

OCO's are primarily for use when you have an open position and want to set stop and limit orders. On the CMC platform you have to set up the OCO manually by linking the two orders, on FXCM the two orders are linked automatically, in effect the result is the same on both platforms, the difference is FXCM do it for you ie If your stop loss order gets filled your limit order gets cancelled and visa-versa.

Here's an example, probably for a long Eur/Usd position from something like 1.1285:




Over to you Einstein....

Mick

[nba_1]

Mick,

You did not read carefully.

To OCO a stop and limit order with a preexisting order is not the same as to OCO two entry orders.

Let's say the blind gambler calls and the EUR/USD is at 1.3300. He let two orders ; a sell limit above 1.3300 and a buy limit under 1.3300 and he OCO them.

Got that ?

I can let that order to the sales or enter it through the platform, Deutsche Bank in my case.

This what I want to replicate with the fxcm or fxsol platforms.

[SimSpeed]

The DealStation platform with MG Financial Group has this capability in the following manner:

1. You can place OCO Stop and Limit orders with one open order entry. Buy or sell, but not both with this single order.

2. You can place single stop or limit orders (either buy or sell), which if you desire, can include a secondary "If Done Order" which sets up open OCO stop and limit orders. These OCO orders can be Buy or Sell regardless of the original order, but you can't mix them (1 buy/1 sell) within the same order.

[WRR]

nba_1,
try forex.com which is the retail arm of Gain Capital. I think they offer what you want.
WRR