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bhds
Posted : Thursday, August 23, 2018 2:12:08 PM
Registered User
Joined: 3/12/2005
Posts: 43

Any traders using OTA stop orders? I've been having some problems getting them to work correctly or maybe I dont understand them fully. Would like to compare notes with someone that has experience with them.

bhds
Posted : Monday, February 11, 2019 1:56:15 PM
Registered User
Joined: 3/12/2005
Posts: 43

Bruce,

I still cant figure out how these OTA orders work. I have been using them in conjunction with conditional orders that I enter the night before and the target orders to close the position are executing at seemingly random times.

An example would be I set a conditional order to buy at market when the daily closing price is 2% above the open price and attach a 2% profit target OTA.

Sometimes the OTA target order will execute almost immediately after the conditional entry order executes and sometimes they are set at a price that doesnt match with the original target %.

Any idea what I am doing wrong?

Bruce_L
Posted : Monday, February 11, 2019 2:36:20 PM


Worden Trainer

Joined: 10/7/2004
Posts: 64,759

I do not know why these would not be working for you as expected. An OTA (one-triggers-all) order should put in the additional orders when the first order exectues.

These additional orders should not be triggered until the requirements of that order are met. These additional orders should not execute immediately unless the order is structured is such a way that the requirements are met immediately.

If this is not the case, you may wish to contact technical support.



-Bruce
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