Bracket Order - Newbie

[sleepy v2 10]

Im currently trialling OEC's demo.

Can someone please explain how I create a bracket order to place a forex trade.

 

For example,

aud.usd buy/stop 81.50

aud.usd sell/stop 81.00

 

In other words, I want to open a trade when aud.usd hits 81.50 and when it does this it put in a working order to sell at 81.00 which is my stoploss.

 

Thanks,

sleepy

[brownsfan019 17]

[Dinerotrader 10]

Im currently trialling OEC's demo.

Can someone please explain how I create a bracket order to place a forex trade.

 

For example,

aud.usd buy/stop 81.50

aud.usd sell/stop 81.00

 

In other words, I want to open a trade when aud.usd hits 81.50 and when it does this it put in a working order to sell at 81.00 which is my stoploss.

 

Thanks,

sleepy

 

If I am correct, there is no DOM for forex at OEC so to enter a bracket order you have to use the OSO entry screen. I think I have only done it once in the past so I am not a great person to walk you through it.

 

BF let me know if I am wrong on this.

 

[brownsfan019 17]

Good point. I don't trade FX so not sure.

[garak 10]

Nope. OEC FX is a white label partnership with Gain Capital. Since this is a market maker there is no market depth available and therefore no trading through DOM as well. They offer a different order tool for FX but I don't know wether bracket orders are possible.

I won't recommend them for FX anyway. There are better FX brokers on this planet.

[Trendup_ 10]

Nope. OEC FX is a white label partnership with Gain Capital. Since this is a market maker there is no market depth available and therefore no trading through DOM as well. They offer a different order tool for FX but I don't know wether bracket orders are possible.

I won't recommend them for FX anyway. There are better FX brokers on this planet.

 

Good info I didn’t know; Are there any good DMA FX brokers you would recommend?

[sleepy v2 10]

According to one of OEC guys ..

 

Forex pairs dont have a DOM

but you can do a bracket order through charts (via extended options).

 

Can anyone explain how this is doen. I still couldnt work it out.

 

And the reason I was plannin on using OEC for froex as I wanted to use a broker that I could trade both forex and eminis.

 

Thanks,

sleepy

[brownsfan019 17]

If OEC told you it can be done, have them show you how to do it. That will be quicker than hoping someone here can show you how to do it.

[Dinerotrader 10]

According to one of OEC guys ..

 

Forex pairs dont have a DOM

but you can do a bracket order through charts (via extended options).

 

Can anyone explain how this is doen. I still couldnt work it out.

 

And the reason I was plannin on using OEC for froex as I wanted to use a broker that I could trade both forex and eminis.

 

Thanks,

sleepy

 

IMO, the convenience of one broker for both isn't worth it in this case. I just closed my forex account at OEC because the spreads were ridiculous. Follow the link Here to a thread which discusses spot forex trading extensively. Look at Thalestraders' posts. There are several times throughout the thread that brokers are discussed.

 

That is the advice I would want if I was getting into spot forex without having read that thread.

 

Note: I just linked the thread to a recent post about brokers. Threre are many, many more good posts in that thread in the past.

[sleepy v2 10]

so are you saying OEC ok for futures and eminis.

But not any good if trading forex.

 

sleepy