Instruction on Placing OCO Order
♦ Step 1: On the order-place window, switch to “Conditional Order” tab
- You need to fill data in the following fields:
- Symbol: Symbol of futures contract
- Quantity (<= Maximum quantity allowed to the chosen contract)
- Price = Profit-taking price: The expected target price of the positions you are holding.
- Trigger price: The price to trigger the order to stop loss
- Spread: The spread of price increase/decrease (depending on the type of order: Buy or Sell) of the order place to the trigger price, aimed to increase the chance of success of the stop-loss order.
- Adjusted price: The adjusted price sent with the stop-order to the Exchange, calculated with the following formula:
- Buy Order: Adjusted price = Trigger price + Spread
- Sell Order: Adjusted price = Trigger price - Spread
- Order-placing principle:
- Trigger price must be greater than the market price at the time of placing the order.
- Trigger price and adjusted price must stay within the upper limit and lower limit of the chosen contract in the day.
- Order-placing principle:
- OCO Order - Buy: Trigger price must be greater than the profit-taking price.
- OCO Order - Sell: Trigger price must be less than the profit-taking price.
- Profit-taking price, trigger price and adjusted price must stay within the upper limit and lower limit prices of the contract in the day.
♦ Step 2: Click Add to send to the Orders to Send tab. You can change the quantity, trigger price and spread by clicking on the upward/downward arrow icons. Click Send to send the order into the Exchange.
Note: You can turn off the “Orders to Send” function to skip this step
♦ Step 3: Enter the Trading Password into the Confirmation Order and click “Send Order” button
Note: You can turn on the One-time password for the entire login session to complete the order faster