I haven’t seen many retail platforms allowing OCO order types, especially through the likes of the MetaTrader platform. I don’t see why this isn’t perhaps on the list of potential order types, although in essence it’s simply a script. Drop CMC a call, i’m sure they would tell you in no time.
I called CMC twice and they did say that they don’t do OCO orders, which was strange because a website that listed brokers who support the OCO order stated CMC do infact do them. I’m thinking the only possible work around is 2 seperate orders, one limit and one stop… and then which ever one gets filled to then cancel the other one manually… however this could happen in the middle of the night and both might get filled in the wrong direction which I think is the only problem. What would your thoughts be on this?
Are market orders at the close any good for pin bar trading or is it better to always set an order price?
I suppose the simple answer would be to change to a broker who does allow OCO - if it’s a deal-breaker that is?
Personally, I don’t use entry orders and always execute at market rate - but I understand your concern regarding over night positions triggering both opposing orders in the wrong direction.
If your using a trading platform that allows custom scripts then this should be the easy answer as no changes are required.
Do you execute your market orders at the end of day close?
Oh not at all, predominantly I’m in the markets at European open, but that’s no help to your dillema! Good luck