When you send an order with a Gain & Loss strategy, the OCO orders have the same TiF as the initial order, being able to stay open beyond the current day. This way, the OCO orders remain open until their TiF expires and this strategy’s management keeps working on the server on the following days.
This kind of setting is good for both the real account (Exchange account) and the simulator account. For that, it’s important for you to know and understand the existing types of TiF, and which ones your Exchange allows according to your trading profile.
If the initial order has the TiF set for “Today”, and it is executed by the end of the day, these operation’s OCO orders will expire and the strategy will be removed from the server.
On the other hand, if the initial order has a TiF set for something other than the same day, it can be executed respecting the TiF deadline set by you. Thus, the OCO orders will be opened aftwerwards, with the same TiF setting: “Good till Cancelled”, “Fill or Kill”, “Until” or “Immediate or Cancel”.
For an easy understanding, keep in mind that when an order that has an integrated OCO strategy is executed, the stop Gain & Loss orders will respect the same TiF as the initial order.
The TiF setting is defined by the user and it is a restriction made by the Exchange itself. The OCO orders will be created with the same TiF type as the initial order of the strategy.
It’s important to highlight that the OCO orders management is made based on your position on a determined crypto. In other words, a portfolio update of the operation is necessary in our system so that your orders don’t get cancelled on the next day.
If the order TiF is set, for example, for “Good till Cancelled”, the OCO orders will remain opened until one of them is executed. If you choose the TiF of “Until”, all of the strategy orders will expire on the day that you determine; This way, the server will remove the OCO strategy on this same day.
Can I add an OCO strategy in a pre-existing position?
Yes. To do so, right-click your position on the chart. However, the TiF of the Gain and Loss exits will always be for the same day and it is not possible to alter it, independently of the TiF of the order that opened that position. It’s essential that the strategy is sent along with the main order so that the OCO exits’ TiF is the same.
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