How can I place 2 opposite orders without them cancelling each other?

Hello, I need some help figuering out how to place 2 orders, one to buy and one to sell at the same time without them cancelling each other out.

For example:
Sell X lots of GBP/USD @ 1.9997
Buy X lots of GBP/USD @ 2.0000

Both of them following the market, meaning one will lose pips, while one will win pips.

Every time I try to do this, one order gets erased/cancelled out, and I need this not to be the case. IS THIS POSSIBLE? :confused:

Here are the list of options my demo account has:

this is different with each broker, for example oanda, you have to create a sub account.

Best place to srat is with your broker, unless you mention your broker here and hope somebody uses the same one!

N

for me there is no problem buying and selling at the same moment.
I just have 2 x spread thats all.

Sometimes when there is a big up and down i do this.

ex: GBP/USD sell at 1.9800 with min exit 1.9770 and max exit 1.9810
GBP/USD buy at 1.9800 with min exit 1.9890 and max exit 1.9850

so with a loss of 10 pips spread and 10 pips losing on 1 trade i get a win of 30 pips.

if everything works out ofcourse.

I currently use ACM Forex, does anyone else?

If anyone can place 2 opposite orders like I have previously stated, please state what service provider you use.

just did it to show you

Forex.com permits Buy/Sell OCO but Iā€™m still learning to navigate their menu.

Iā€™ve been demo testing several platforms. I find that ITrade which is run by the same MTI people is very clean and easy to use so I might start live trading with them. BUT they do not allow Buy/Sell OCO. You can set the orders manually. Their agent is very friendly and helpful.

Tx for the replies. I have found out that this process is called hedging. I asked my demo account company and they said its only available to accounts $50,000 and up. So I guess iā€™ll have to make due without it for now.:slight_smile:

Or change brokers! :wink:

To Forex4fun and Belgo,

How did you people manage to place to charts on your posts without going through ā€œmanage attachmentsā€ ???:confused: :confused:

I would love to know. Everyone else can seem to do it also. It is lovely to see a picture or chart without first opening a zip file or attachment.

Kind regards, Tymen Wortel, Perth, Western Australia.

upload your pic to your server and then just insert the link by ā€œinsert imageā€

Cancelling??
Im sure you are on wrong broker, ur broker do not allow hedging.
In Liteforex you can do these, scalping hedging EA and all trading strategy allowed there.

By this donā€™t you mean locked position, most brokers do allow that. Maybe not all of them do, but am sure they can always work something out, as this is done with the intention of managing risk.