Support Board

Date/Time: Mon, 29 Apr 2024 17:06:00 +0000

Post From: Sierrachart Order Routing - the present and the future?

[2021-03-02 20:40:55] Link To Thread - Link To Post [Go To First Post]
User13668 - Posts: 291
re post #11. I agree the use of 'OCO' and 'Bracket Order' are confusing. Not just here at SC, but also how other brokers, s/w providers and data providers use the terms. From what I understand in SC documentation this is how I have interpreted it: 1/ Vanilla simple OCO: you place an order to go Long (or Short) and you attach child (sibbling orders) to Take Profit or be Stopped Out - whichever comes first. My understanding is that with CQG Web API (using SC) these are SERVER side ie you are protected from a malfunction with your PC and/or internet connection to your place of trading. 2/ Complex Bracket Order: this is effectively like two OCO's ie say price is currently 1000.00 and you want to go Long when price gets to 1005.00 OR Short when price gets to 995.00 - whichever comes first (ie but not both). AND you want to have sibbling orders attached to those as well eg if the Long at 1005 is triggered first you want a Take Profit and Stopped Out order to be attached. Plus you want all of this Bracket Order and triggered OCO (for the Long) to reside server side. Well my understanding is SC does not support this with CQD Web API.