The OCO-one time feature in the Tradovate DOM can be used to place an Order-Cancels-Order (OCO) Stop Loss and Take Profit for an existing open position.
Start by selecting OCO-one time in the ATM drop-down menu at the bottom of the DOM module:
Now we place the TP and SL orders.
Take Profit:
In the case of having a long position, left-click in the Ask column above the market price to place a sell limit order. In the case having of a short position, left-click in the Bid column below the market price to place a buy limit order.
Stop Loss:
In the case of having a long position, right-click in the Ask column below the market price to place a sell stop order. In the case of having a short position, right-click in the Bid column above the market price to place a buy stop order.
In this long position example, we left-click above the price in the Ask column to place a sell limit order above the current market price:
Then we right-click below the price in the Ask column to place the sell stop order below the market price:
The Limit and Stop orders are now working and linked as OCO orders:
Please note that this feature requires sequential clicks to function properly--meaning, you must click OCO-one-time > Order 1 > Order 2. Clicking elsewhere on the Tradovate platform will cause you to need to re-start the OCO creation process.