Futures - Adding OCO Orders with Trailing Stops By ML BILLION
Summary.
Billion OS allows users to place OCO orders with Auto-Trailing Stops, making it easier to manage stop levels and trail behind the market automatically.
00:01 Another great feature within Billion OS Fis the ability to come in and place OCO orders with Auto-Trailing Stops. We do that through the BS button. We come into the BS button, or the Buy/Sell button. We place the order, lets say we're going to place an order on a Buy on a break above the market.
00:18 We're going to come in here and we're going to Buy one Stop. We're going to make this a Limit order, and we're going to put the Limit order at 25 above, and we're going to do a Stop order at 25 below. With the Stop order, once our Stop order for entry or Master order is filled, we want our Stop order to jump.
00:36 We want it to be a Jump Stop. If the market moves, let's say if the market moves ten Tics, in our favor, we're going to move it to Stop, to break even, plus or minus 5 Tics. We can do that! Once the market jumps to five Tics plus or minus within our favor, we're going to do plus, we can do minus if we wanted to.
00:59 We're going to leave it plus, so if the market jumps in our favor by five Tics, at that point we're now going to Trail behind the market. We can come in and we can say Tics behind the market. Or we could say we're going to Trail behind the market by ten Tics. We can do that as any other type of Trailing Stop as well.
01:20 Percent Profit, Dollars Behind, Number of Price Bars, or any number of Mathematically Trailing Stops. We can even do another Jump Stop, if we would like. We can even setup another Jump Stop. So, that's how you can make your OCO Auto-Trailing Stops very user-friendly. Very automatic that can handle the tedious nature of moving your Stops to different Stop levels for you automatically.
Key Insights.
- 👍 Placing OCO orders with Auto-Trailing Stops in Billion OS simplifies the process of managing stop levels and trailing behind the market.
- 💡 The BS button allows users to easily access and place these orders.
- ✅ The ability to set stop orders to jump ensures that once the entry order is filled, the stop order adjusts accordingly.
- 🔄 Trailing stops can be customized to trail behind the market by a specific number of Tics or using other trailing options.
- 📊 Billion OS offers various trailing stop options, including Percent Profit, Dollars Behind, Number of Price Bars, and more.
- 🔀 Users have the flexibility to set up multiple Jump Stops for their OCO Auto-Trailing Stops.
- 🎯 The automation provided by Billion OS reduces the need for manual adjustment of stop levels and makes the process more user-friendly.