Bracket
Bracket orders are designed to limit your loss and lock in a profit by "bracketing" an order with two opposite-side orders. A BUY order is bracketed by a high-side sell limit order and a low-side sell stop (or stop-limit) order. A SELL order is bracketed by a high-side buy stop (or stop-limit) order and a low side buy limit order.
The order quantity for the bracketing orders is the same as that of the original order. By default, the amount off the current price to which a bracket order is set is 1.0. This offset amount can be manually changed on the order management line for a specific order, or you can modify the default offset amount using the Order Preset in Global Configuration.
In addition, if you display the OCA Group field on your order line, you will see that the two child bracket orders are automatically put into an OCA group. This means that when one of the orders executes, the other will automatically be cancelled.
When including bracket orders in a basket, display the Key field in the BasketTrader to see the parent/child relationship between orders.
If you attach a bracket to a working order, you will need to transmit the child orders manually. However, the system does recognize that the parent and child orders are designed to work as a bundled group, which you can see by the matching values in the Trailing Key field if you display this field on your order line. If you attach a bracket to a working order and modify the parent, when you re-transmit the parent order the children are then transmitted automatically.
- Click the "Ask" or "Bid" price of an asset to create an Order Management line.
- Click the Ask Price to create a Buy order.
- Click the Bid Price to create a Sell order.
- On the right-click menu, select Attach and then select Bracket Orders.
- Verify that the order parameters are correct.
- Transmit the order.
