An OSO order, also referred to as Exit Single on the platform, allows you to automatically attach exit orders to a new position the moment the order is filled. Instead of entering a trade first and deciding on your risk management later, OSO ensures your protection and profit strategy are already in place from the start.
How it works
An OSO or Exit Single links two stages of a trade.
- Primary Order (entry trade): When this order executes, it immediately triggers the submission of your exit order.
- Secondary Order (exit trade): Typically uses a stop limit order for a stop loss or a take profit level.
Example: Setting an OSO order
A stock is currently trading at ₱33.80, and you want to ender only if its breaks above ₱34.00, singnalling a breakout move while also protecting yourself should the trade make a false breakout. You set an OSO:
- Primary order: you set a buy stop limit order with a stop price at ₱34.00 and a limit price at ₱34.20.
- Secondary order: you set a sell stop limit order with a stop price at ₱32.00 and a limit price at ₱31.90.
If the breakout happens and your buy order fills, your exit strategy is instantly set.