Hi everyone, bit of a noob here and my first actual post. I guess its both an observation and a question. I asked Mr. Bot if there was a specific reason why you are unable to set a stop loss on an OCO order. This was his/her IT’s reply:
"The reason why stop loss orders are not available within the OCO (One Cancels the Other) order type on Trading 212 is not specified in the Help Centre. However, it is possible that this feature is not currently supported due to technical limitations or platform design choices. Trading 212 regularly updates and improves its platform, so it’s always worth checking for any new features or updates in the future. If you have any further questions or need assistance, please let me know. "
Can a human at T212 expand on this further?
Is it simply a coding issue? I feel it would be of huge benefit to customers, regarding risk management techniques, at least for someone like me just learning the ropes.
Is this a stupid question? Seems a clever idea to me, at least from a punter’s perspective…
No worries if this is a question thats been asked and answered, but I did search a few terms regarding this and didnt really find an answer.
Have a great weekend anyway, I hope everyone is doing well wherever you are!
OCO orders can be used in lots of different ways. I don’t personally use them so I haven’t looked at the issue in any detail but my suspicion is that having the ability to set limit or stops on one or both of the oco orders would significantly complicate it and create many permutations. The OCO already contains two separate but dependant orders that can each either be sell or buy orders. Thus you can have an OCO with two buys, two sells or a buy and a sell and technically you might want both limits (take profit) and stops on each of those orders. It is therefore standard (I believe) with OCO orders that you set limits or stops once one of the two orders has executed.
Good Morning @WakeMeUp I completely understand your point; however, Mr bot believes its a technical limitation of the website (web-app). Everything you have detailed, is precisely what I think should be available! Yeah its a lot of work to set it all all up from the investor’s perspective, but why is not available? This was my question.
At the end of the day it is a technical limitation. You design the system and the data required to implement the system based on the design specification. To add multiple additional options and variants then onto an existing feature is a technical issue. In this case, it would require several additional parameter to the order which creates data and user-interface issues. Thus to have limit and stop properties for both of the primary OCO orders would add 4 additional parameters to the order and is thus a technical issue. Just because you think it should be available doesn’t change that. I believe (not having used OCO orders) that it is standard that neither OCO order includes secondary stop/limit parameters and those have to be set manually. In fact the Investopedia explanation of OCO orders specifically says “If OCO orders are used to enter the market, the trader must manually place a stop-loss order when the trade is executed” One-Cancels-the-Other (OCO) Order Definition (investopedia.com)
Fair enough. the broker obviously would be at a disadvantage if people could do this, I was simply wondering if this is something that’s possible. I am unfamiliar with industry standards and setting up complex trades, like I am proposing. I’m not trying to harm anyone, it’s just a simple question.
