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In metastock, you wrote:
>Does anyone know of a Internet based broker where I can use OCO (one cancels
>the other) orders with stocks (not futures)?
>
>What I want to do is;
>
>1- Enter a trade
>2- Enter a target
>3- Enter a stop
>
>If target is hit, then I want the stop to be cancelled automatically.
>If the stop is hit, then I want the target to be cancelled automatically.
>
>I think CyberCorp does this, but the stop and targets reside on my computer.
>Does anyone know if it can be done with orders held at the broker?
>
Interesting that you posted this... I called Cybercorp about 30 minutes
ago to ask this very question.
They do have "automated order entry" so you can enter the above order,
but *they do not* have OCTO orders. In your example, let's
say #1 and #2 above get executed. Great, you've made your profit.
But, now let's say your stop gets hit. You will not have entered a
short position.
So, to answer your question, I can verify that Cybercorp does not
allow OCTO orders, and I do not know of any e-broker that does.
If you find any, I'd love to know about it.
Jeff
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