CQG offers a suite of Smart Orders that includes OCO orders.
An OCO is a multi-part order. If one part of the order is executed, then the all other parts are cancelled.
Working OCO orders are uniquely numbered/lettered with a single digit for identification purposes. The single digit is any number from 1-9 and letters of the alphabet except A, L, and S. If you have more than 32 working OCO chains, orders 33 and above are marked with an asterisk.
Numbers and letters do not indicate the sequence in which orders were placed, as numbers and letters are reused when the order is no longer working.
The number/letter is indicated on the order information icon, the order information popup, and on Orders and Positions.
Placing these orders requires an enablement from CQG and from you in Smart Order Preferences.
1. Click the Special Orders arrow and select OCO from the menu.
2. Click the button to turn OCOs on (the button turns orange).
3. Place the first order.
4. Place the second order.
5. Continue to place orders for each part of the OCO chain.
6. Click the OCO button. You receive an order confirmation message for each of the orders.
Upon execution of one of the orders, the other order(s) are cancelled automatically.
See Managing Orders on Orders and Positions to learn how to create an OCO from an open order and to combine existing orders into a single OCO.